CCL Industries Inc. is teaming with Korsini-SAF to build a $20 million in-mold label plant in Memphis, Tenn.
The partners will each own 50 percent of the new company, which is expected to be up and running by the middle of next year.
The Tennessee location will be known as CCL-Korsini.
"IML for injection molded containers was successfully introduced in Europe some years ago and we now see a similar development in this rapidly growing decoration technology in North America,” said Guenther Birkner, president of CCL Label's food and beverage business, in a statement.
The new 70,000-square-foot location will be adjacent to CCL's specialty label operation in Memphis.
“CCL is the world's largest label company with extensive presence in North America, which has become our fastest growing export market,” said Korsini CEO Enrico Corsini in a statement. “Contributing our technical expertise to manufacturing while controlling injection molded container customer relationships will ensure we get the new venture rapidly established and take a very strong market position.”
Korsini is an IML producer based in Izmir, Turkey, and CCL is based in Toronto.
