WHITBY, ONTARIO - Film producer Enhance Packaging Technologies Inc. has added liquid packaging equipment to its product line.
Enhance bought Prepac, a Paris firm with technology that Enhance and its parent, DuPont Canada Inc., used in North America for 30 years. Prepac's product line includes equipment to form and fill Enhance's polyethylene milk pouches.
''With this acquisition, we will significantly broaden Enhance's global reach through Prepac's extensive agency network in Latin America, Europe and Asia,'' Dave Colcleugh, DuPont Canada chairman, president and chief executive officer, said in a news release. Prepac employs 70 in France and has more than 24 distributors globally.
Prepac's machine expertise and Enhance's film technology will allow the combination to launch innovative packaging for food and beverages, said Ash Sahi, president and CEO of Enhance, based in Whitby.
Enhance said the global market for pouch packaging is about US$2 billion a year and growing at double-digit rates. DuPont Canada spokesman Richard Gareau said by telephone that Enhance has current pro forma sales of about C$150 million (US$97.5 million); he expects that figure to grow to C$500 million (US$325 million) within five years.
The Prepac buy happened less than a year after DuPont Canada deferred spinning off Enhance as a public firm. DuPont had hoped for an Enhance initial public offering in mid-2000, but postponed it because of poor stock market conditions.