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        IMA

CCL to build IML plant in the US; jv with Turkish company

Canadian speciality label and packaging solutions provider CCL Industries (has signed an agreement to build a US$20 million manufacturing plant for in-mould-labels (IML) in Memphis with Korsini, a IML producer in Izmir, Turkey. The partners will each have a 50% stake in the new company known as CCL-Korsini, which is expected to be operational by mid-2016.

Guenther Birkner, President of CCL Label's Food & Beverage business said, "IML for injection moUlded 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. Korsini is an advanced technology partner already servicing injection moUlded 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."

Enrico Corsini, President/CEO and significant shareholder in Korsini added, "CCL is the world's largest label company with extensive presence in North America, which has become our fastest growing export market. Contributing our technical expertise to manufacturing while controlling injection molded container customer relationships will ensure we get the new venture rapidly established and take a very strong market position."

According to Geoffrey T. Martin, President/CEO of CCL, "This is an important addition to our fast growing Food & Beverage business. CCL will oversee the construction of a new 70,000-square-foot facility immediately adjacent to our speciality label operation in Memphis where the venture will be based."

(IMA)


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