Sealed Air Corp. expanded its stake in rigid medical packaging by acquiring Nelipak Holdings BV of Venray, Netherlands.
Nelipak had sales of about $50 million in 2004. It operates three production plants in the Netherlands and one in Galway, Ireland. Sealed Air bought the business from the Nelissen family for undisclosed terms. A member of the family, Frank Nelissen, will continue with the company as managing director.
Sealed Air's European medical packaging business has been dominated by flexible films, explained company spokesman Eric Burrell. The Nelipak purchase helps Sealed Air diversify in the field and bolster its up-to-now relatively small rigid packaging lineup for medical devices.
``We believe that medical packaging represents an attractive growth opportunity for Sealed Air's products and technology,'' said Sealed Air President and Chief Executive Officer William Hickey in a news release.
Nelipaks' other major markets include blister packs for consumer and other products, technical and electronics packaging, handling trays, lidding and contract packaging. It also makes sealing machines for blister-pack users. The total systems approach that includes supplying equipment fits Sealed Air's strategy in packaging, said Burrell.
Sealed Air of Saddle Brook, N.J., is a diverse packaging producer with such brand names as Bubble Wrap, Jiffy mailers and Cryovac food packaging. Last year Cryovac ranked as North America's 11th-largest thermoformer, with sales of $123 million, according to Plastics News estimates.