Autobar Packaging is adopting a fresh image and has changed its name to Veriplast Solutions under its new owner, Boca Raton, Fla.-based private equity firm Sun Capital Partners Inc.
The St.-Priest, France-based rigid and flexible plastic packaging and food-service product manufacturer also announced it plans a new investment program for its European plants. Investment details will be revealed later in the year, although Veriplast has clear strategic plans for growth in Eastern Europe, the company said.
Sun Capital bought Autobar a year ago from Acorn Netherlands ZBV of Rotterdam, Netherlands.
The French company, which has adopted the name from its drink and food-service business, Veriplast International, plans increased innovation, particularly aimed at reducing packaging weight. Veriplast Solutions operates 15 production sites in five European countries. These include rigid packaging plants in Soustons, France; Ravensburg, Germany; and Sopelana, Spain. The firm also operates flexibles facilities at five French sites. Veriplast International's plants are in Britain, France, the Netherlands, Poland and Bulgaria.
``This new identity marks an important step in the evolution of our company,'' said Augustin de Tilly, Veriplast Solutions executive vice president of marketing. The name change was prompted to avoid brand confusion with the remaining Autobar vending business, he said.
The company's operations are being focused on five newly named businesses: Veriplast Flexible Solutions, producing film and converted film products; recycled polyethylene film maker Veriplast Recycling Solutions; Veriplast Decorative Solutions, a specialist in in-mold labeling and printed sleeves; food packaging thermoformer and injection molder Veriplast Consumer Packaging Solutions; and Veriplast Food Service Solutions, making vending and quick-serve restaurant packaging.
Veriplast introduced its Extra Slim Label in January, which it claims is an IML breakthrough at just 38 microns, almost half the thickness of the market standard, according to de Tilly.
Veriplast Decorative is spending ``several million euros'' to install a Helio printing press, due to be up and running in the second half of 2008, he said.