Conwed Plastics Inc. has diversified and strengthened its stake in Mexico with the acquisition of netting converter Etiquetas y Empaques SA de CV.
The firm, based in Guadalajara, Mexico, is a major converter and printer of extruded and knitted plastic header bags for packaging produce, toys and specialty items. Etiquetas y Empaques has relied on Conwed as a source for netting. Officials did not disclose sales or employment levels for Etiquetas y Empaques or terms of the acquisition.
``With this acquisition we will be in a position to offer our customers unique value-added packaging solutions and extend our geographic service area to the West Coast, Mexico, as well as Central and South America,'' Conwed President and Chief Executive Officer Mark Lewry said in a March 1 news release. He said the deal especially strengthens Conwed in produce packaging.
Etiquetas y Empaques' former owner and President Alonso Garcia joins Conwed's management and will oversee expansion of manufacturing in Guadalajara to serve the United States and countries throughout the Americas.
The purchase was Minneapolis-based Conwed's sixth in the past four years and its second outside the U.S. Other acquisitions include Polynet Inc. of Palmer, Mass., last year; NSW Plastics of Roanoke, Va., in 2005; and Netlon of Blackburn, England, in 2005.