CCL Industries partners with Turkish firm for IML plant in Tennessee
Toronto-based company will build plant with Korsini-SAF.
Toronto-based label maker CCL Industries Inc. is continuing a busy summer, as it announced a new partnership with European in-mold label (IML) producer Korsini-SAF to build a 70,000-square-foot, US$20 million IML plant in Memphis, Tenn.
CCL and Korsini – which is headquartered in Izmir, Turkey – will each own 50 per cent of the new company, which is expected to be in operation by mid-2016. The new operation will be known as CCL-Korsini, and will be located adjacent to CCL’s existing specialty label operation in Memphis.
“IML for injection molded containers was successfully introduced in Europe some years ago and we now see a similar development in this rapidly growing decoration technology in North America,” Guenther Birkner, president of CCL Label’s Food & Beverage business, said in a statement. “Korsini is an advanced technology partner already servicing injection molded container customers in North America with products exported from Turkey. Our role in the venture is to support local manufacturing, provide market access to brand owner customers and manage administration.”
The CCL and Korsini partnership comes just two weeks after CCL announced the purchase of German label maker Fritz Brunnhoefer GmbH for a net cash purchase price of Cdn$7.8 million. Headquartered in Nurnberg, Brunnhoefer produces labels for durable goods, and reported 2014 sales of Cdn$8.5 million.
CCL employs approximately 10,800 people and operates 102 production facilities in 29 countries on five continents. The company describes itself as the world’s largest converter of pressure sensitive and film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare, automotive and consumer durables markets.