Coveris is to focus on its operations in Europe following the sale of its Americas packaging business to TC Transcontinental.
TC Transcontinental has entered into a definitive agreement to acquire the business of Coveris Americas, described as ‘a turning point’ in TC Transcontinental’s 42-year history and crystallizing its strategic shift toward flexible packaging.
In Europe, Coveris is one of the largest players in the flexibles and rigid packaging market. Upon close of the Coveris Americas sale, the company’s remaining operations will consist of its Rigid, EMEA, and UK Food & Consumer businesses, and it will have manufacturing facilities in 14 countries, 44 strategically located facilities and over 8,000 employees.
Jakob A. Mosser, Coveris CEO, said: ‘This supports our recent strategic focus on delivering high performance and sustainable packaging solutions for our customers in the food, pet food, medical and pharmaceutical markets.’