CCL and Korsini-Saf agree IML venture in North America

The partners will invest approximately 20 million USD between them, in a combination of debt and equity, each owning fifty percent of a newly formed IML specialty company. The plant is expected to be in operation by mid-2016 and will trade as CCL-Korsini.

Guenther Birkner, president of CCL Label's food & beverage business, commented, ‘IML for injection molded containers was successfully introduced in Europe some years ago and we now see a similar development in this rapidly growing decoration technology in North America. Korsini is an advanced technology partner already servicing injection molded container customers in North America with products exported from Turkey. Our role in the venture is to support local manufacturing, provide market access to brand owner customers and manage administration.’

Major brand owners in North America are adopting IML on a large scale, thereby increasing a demand for a reliable local supply. Currently, the majority of in-mold labels used in North America are imported from Europe. Read the full feature story from L&L Issue 3 2015 here.

Enrico Corsini, president & CEO and significant shareholder in Korsini, added, ‘CCL is the world's largest label company with extensive presence in North America, which has become our fastest growing export market. Contributing our technical expertise to manufacturing while controlling injection molded container customer relationships will ensure we get the new venture rapidly established and take a very strong market position.’

Geoffrey Martin, president & CEO of CCL, concluded, ‘This is an important addition to our fast growing food & beverage business.’

Korsini-SAF is headquartered in Izmir, Turkey and has a production facility in Milan, Italy. Its annual sales are 50 million USD with 90 percent of products exported to more than 50 countries worldwide.