AptarGroup closing two plants in Europe, shifts spending to developing countries

By Michael Lauzon
Correspondent

Published: February 8, 2013 12:59 pm ET
Updated: February 8, 2013 1:02 pm ET

Related to this story

Topics Packaging, Injection Molding, Containers/closures

CRYSTAL LAKE, ILL. -- Dispensing systems manufacturer AptarGroup Inc. said it plans to curtail operations in Europe and pick up capital spending in developing countries.

Aptar said in a Feb. 8 teleconference call that it will close a facility in Italy and one in Switzerland. Officials did not identify the closures. On its website the Crystal Lake, Ill., firm said it runs manufacturing plants in San Giacomo, Pescare and San Giovanni in Italy, and Neuchatel in Switzerland. It runs 12 other facilities in Europe.

The closures are part of Aptar's European operations plan to optimize Aptar's footprint on the continent. The reorganization will result in charges of $4.9 million against expenses, $1.6 million in non-cash costs and $3.3 million in severance payments.

The firm's financial performance in Europe was flat in 2012. Weakness in North America was offset by demand in Asian and Latin America.

Aptar recently expanded in North Carolina and is investing more in developing countries. Among the new products on which it is relying on growth are anti-bacterial dispensers to be sold by consumer major S.C. Johnson.

Aptar President and CEO said "Significant increases in the U.S. raw material costs, primarily plastic resins, will create headwinds in the first quarter due to the timing of the pass-through of these increases to our customers."

Aptar logged sales of about $2.3 billion in 2012, essentially equal to sales of the previous year. Net income at $162.4 million was down from $183.6 million.


Comments

AptarGroup closing two plants in Europe, shifts spending to developing countries

By Michael Lauzon
Correspondent

Published: February 8, 2013 12:59 pm ET
Updated: February 8, 2013 1:02 pm ET

Post Your Comments


Back to story


More stories

Image

Beer maker Carlsberg enlists suppliers for 'upcycling' project

July 22, 2014 11:14 am ET

Carlsberg Breweries A/S in Denmark has started an ambitious project with its suppliers to optimize its packaging for the purpose of “upcycling....    More

Image

Global market for plastic containers to top 46 million metric tons by 2021

July 22, 2014 10:56 am ET

German research company Ceresana has released a study saying that it expects the global market for plastic containers to rise to 46.2 million metric...    More

Image

Illinois injection molder expands

July 21, 2014 1:23 pm ET

Automotive supplier All-Rite Industries Inc. has added two new injection molding machines to its operations.    More

Image

Portugal's Gepack setting up PET packaging facility in Arizona

July 18, 2014 3:32 pm ET

Gepack, a maker of PET bottles in Portugal, is setting up new a manufacturing facility in Arizona.    More

Image

Infiltrator goes very large scale for injection press

July 18, 2014 1:45 pm ET

Infiltrator Systems Inc. has designed and built a mammoth injection press, with 6,000 tons of clamping force, to mold septic tank halves measuring 15 ...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events