Blow molder Logoplaste expands its Wisconsin facility
The expansion comes less than one month after the Ontario Teachers’ Pension Plan Board became the majority owner of the Portugal-based company.
Less than one month after the Ontario Teachers’ Pension Plan Board became the majority owner of Portugal-based blow molder Logoplaste SA, the company has announced plans for an expansion that will double its footprint, and add 10 jobs, in its U.S. plant in Yorkville, Wis.
According to a March 11 report in The Journal Times, Logoplaste will invest between US$2 million to US$3 million in the expansion, which will grow the company’s presence at Grandview Business Park in Yorkville from about 90,000 square feet to 180,000 square feet.
Logoplaste relocated its operations in Chicago to the Yorkville plant in 2018.
Ontario Teachers’ acquired the majority stake in Logoplaste from investment firm Carlyle Group, for an undisclosed amount, at the end of February. Current Logoplaste shareholders and executives Filipe de Botton and Alexandre Relvas have retained their approximately 40 per cent stake in the firm.
Logoplaste was founded in 1976, and makes plastic bottles and containers for water, milk, ketchup, shampoo and lubricants, and supplies to Danone, Nestle, Arla, Kraft Heinz, P&G and L’Oreal among others. The company operates more than 50 plants around the world.