Elopak Announces Plans to Build New Manufacturing Plant in USA
2 June 2023
Elopak announced that it will invest around USD 50 million (including lease liability) to build a new manufacturing plant in the U.S.
The investment will take place during 2023 - 2024 and will be financed by utilizing Elopak's existing Revolving Credit Facility.
According to the company, the new plant will better serve customers in the Americas and accelerate growth in the region.
"Over the last few years, Elopak has delivered very strong profitable growth in Americas," said Lionel Ettedgui, EVP North America at Elopak. "The time has now come to increase capacity to further strengthen our organization and enable us to provide quality service to our customers in Americas faster and more efficiently."
Thomas Körmendi, CEO said, "I am truly excited about this investment. This is a response to the strong demand that we are seeing for our innovative and sustainable solutions. It is a landmark investment for our company as Americas is one of the key building blocks of our strategy."
The new plant is expected to begin production in the fourth quarter of 2024 and will create more than 100 new jobs.
Elopak is a leading global supplier of carton packaging and filling equipment, using renewable, recyclable and sustainably sourced materials to provide innovative packaging solutions.