Packaging and coatings company Coveris Holding Corp. is buying a shrink sleeve and label company in Ecuador, a move that marks a new operational territory for the firm.
Supraplast SA of Guayaquil, Ecuador, has what Coveris described as a “broad product offering” including shrink sleeves, self-adhesive labels, safety seals and both PVC and PET shrink films.
Coveris CEO Gary Masse described Supraplast as his company's first operation “located in South America.”
“Supraplast has one manufacturing site in Guayaquil, Ecuador. Guayaquil is the key industrial center of Ecuador. The Supraplast facility is the largest printed sleeve and label operation in Ecuador,” said Doug Bengtson, vice president of global business development for Coveris, in an email.
Last year Coveris bought Olefinas SLP SA de CV, an agricultural plastics company with operations in Guatemala and Mexico.
“We look forward to continued growth in Latin and South America,” Masse said in a news release.
Blaige & Co. in Chicago advised Supraplast on the sale. Coveris is the 18th largest film & sheet manufacturer in North America, according to Plastics News' most recent ranking, with estimated sales of $510 million.
