The last week in October has been a busy one for plastics packaging processor and converter CCL Industries. The company will acquire the assets of Advanced Packaging Films GmbH in Schkopau, near Leipzig, Germany, for approximately $9 million.
With this acquisition, CCL is creating a new business unit that will trade as advanced performance films and will be part of the CCL Label global food & beverage business headed by Guenther Birkner.
"This new capability allows us to design proprietary, specialty films for new sleeve and pressure sensitive label applications while improving our supply chain performance for part of today's demand," he said. "It is an important strategic step as we seek to accelerate growth with global brand owners in the premium segment of this market. We remain the world's largest trade buyer of heat shrinkable films for label applications from our valued supply partners."