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Music City plays host to converters attending the Flexographic Technical Assn.'s annual conference and exhibition.Read more
When looking for process, product, and profit improvements for your PSA tapes and labels, consider going back to the drawing board.Read more
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News | New Products
Company says market for resealable bags in Brazil and Latin America is growing rapidly, and lab will provide shelf-ready samples for customers
The PX-721 system, called affordable and gentle, is part of the company’s Phoenix line
Companies excelling in technical innovation, print excellence, and sustainability as well as industry leaders are among those honored by FTA
The 18th edition of the show is said to be the gateway to 380 million consumers in the East African Region
Shingle stream method uses company’s Tornado technology to enable automated variable overlap shingling for variable length sheeting and stacking
The 9th Annual IMDA Awards Competition will recognize IML packaging, IMD durable products, and labels in multiple categories
The companies will develop inspection solutions for sectors including labeling and packaging and also will co-develop print quality assurance solutions
Directories | Reports
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- November 02, 2001, PRESS RELEASE
HARTSVILLE, SC, USA—Sonoco reports it has finished the previously announced purchase of Phoenix Packaging Corp., a privately held co. headquartered in North Canton, OH. Completed in mid-September, the all-cash deal's amount was not disclosed.
According to Sonoco, Phoenix reported 2000 sales at approximately $70 million (US), with a 2001 sales estimate at approximately $80 million. Sonoco says Phoenix, with approximately 190 employees in two facilities in the Canton area, is the leading mfr. of steel, easy-open closures in North America. Sonoco says the closures can serve as closing devices for metal, plastic, and composite containers.
"Only about one-third of the total domestic food-can market has been converted to easy-open closures, with potential conversions remaining in such products as soups, seafood, and vegetables," says Sonoco president/CEO Harris E. DeLoach, Jr. "Sales of easy-open closures have grown at a compound annual rate of 9 percent since 1999. [This] growth is being driven mainly by the increasing ready-to-serve food segment and consumer desire for convenience," he adds.
Sonoco's global metal and plastic easy-open-closures business (part of the co.'s consumer packaging segment) had year 2000 external sales of approximately $25 million (US) and approximately $165 million of internal sales to the manufacturer's composite can operations, says the co. "We believe this additional capacity and accompanying technology in the 'high-end' specialty closures market will enhance our ability to meet evolving closure needs for rigid containers, thus deepening our growing capability to provide global packaging supply-chain solutions for current and potential customers," DeLoach reports.
Visit Sonoco at sonoco.com.