Sector News

Categories

Borderless Insights

Image
Negotiating Terms with a New Employer
Image
Beyond Flowers and Platitudes: Reclaiming the Essence of International Women’s Day
Image
Visionary or ‘Stuck-in-the-Mud’? Where are you on Workplace Flexibility?

Coveris Announces Acquisition of Agricultural Plastics Leader Olefinas

June 18, 2015
Energy & Chemical Value Chain
(BUSINESS WIRE) – Coveris Holdings S.A., a leading global packaging and coatings solutions company, today announced the acquisition of Olefinas, a leading agricultural plastics company with operations in Guatemala and Mexico. Entering Latin America supports Coveris’ initiative to providing a full range of packaging solutions for agricultural products. This is the second new geographic market Coveris has entered in the past six weeks, following the recently announced acquisition of Elldex, a full-service flexible packaging company in New Zealand.
 
Olefinas manufactures packaging solutions for a full range of agricultural products, including tree bags, labels, twine and aging ribbons for the banana industry, as well as mulch and fumigation films, insect traps, modified atmospheric packaging and shrink films. Since 1959, Olefinas has been the pioneer of banana plastics and produces more than 300 million pounds of high value added products annually dedicated to enhancing crop yield.
 
“We consistently look for opportunities to better serve our growing customer base and expanding our market reach,” said Gary Masse, Coveris CEO.
 
Olefinas has more than 600 employees across its two locations in Guatemala City, Guatemala and San Luis Potosi, Mexico. Capitalizing on Coveris’ global strengths and Olefinas’ agricultural market expertise, this Latin American-based operation will be rebranded as COVERIS-Olefinas.
 
“Olefinas is thrilled to become part of this growing, global packaging company,” said Clayton McNeel of Olefinas. “Olefinas has enjoyed tremendous success in our markets, and we are excited to continue our journey with Coveris.”
 
Source: Coveris

comments closed

Related News

May 4, 2024

Heikki Malinen appointed as the President and CEO of Neste Corporation

Energy & Chemical Value Chain

Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.

Read more
May 4, 2024

Rossouw to step down as Sasol CFO in October

Energy & Chemical Value Chain

Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.

Read more
May 4, 2024

Chemours CFO Jonathan Lock resigns following code of ethics violations

Energy & Chemical Value Chain

Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.

Read more
More news

How can we help you?

We're easy to reach