Germany-based packaging supplier Schütz GmbH & Co. KGaA has signed an agreement to acquire Mexican rigid industrial packaging company Envases y Laminados (ELSA) for an undisclosed sum.
Under licence agreements, ELSA and Schütz have worked together in Mexico for 20 years, with the Mexican company manufacturing and marketing Schütz intermediate bulk containers and plastic drums under license.
ELSA’s product portfolio includes IBCs, drums, buckets and bottles. The company produces various drum products such as fibre drums, polyethylene drums, steel drums.
ELSA’s buckets can be used for packing non-dangerous liquids of the chemical, food and pharmaceutical industries, while IBCs are suitable for packaging chemical, pharmaceutical and food industry products.
“We are excited about this unique opportunity to be present in Mexico with a fully owned subsidiary,” Schütz CEO Roland Strassburger said in a statement. “ELSA is well established and Mexico offers interesting growth perspectives for our industry as our customers perceive Mexico to be an integral part of the NAFTA region.”
The deal is expected to be completed in early 2018.
Headquartered in Selters, Germany, Schütz operates four business divisions, including packaging systems, industrial services, composites/windpower and energy systems.
