Packaging manufacturer Elopak has announced plans to invest $50 million into a new plant in the US.
The new plant will position Elopak to better serve its customers in the US and accelerate growth in the region.
Elopak says the $50 million – which includes lease liability – will be invested in the new plant over the next year and will be financed using the company’s existing revolving credit facility.
Lionel Ettedgui, Elopak’s EVP of North America, said: “Over the last few years, Elopak has delivered very strong profitable growth in the Americas. The time has now come to increase capacity to further strengthen our organisation and enable us to provide quality service to our customers in the Americas faster and more efficiently.”
Elopak’s CEO, Thomas Körmendi, added: “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 the Americas is one of the key building blocks of our strategy.”
The plant is slated to commence production in Q4 2024, creating over 100 new jobs.
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