Located in Pennsylvania, the Hispanic-owned Torres & Towers specialises in 28- and 38-mm plastic closures for carbonated soft drinks, bottled water, motor oil and other applications. Crown Zeller is a leading provider of dispensing closures for health, beauty, personal care and food products and is an affiliate of global consumer packaging provider, Crown Holdings.
"Along with satisfying our customers' needs for supplier diversity, this is an excellent strategic move for Crown," said Joseph Pierce, president of Crown Closures Americas. "As Crown provides Torres & Towers with new economies of scale and technical support, they will help us round out our product portfolio in order to offer our current and prospective customers the most comprehensive selection of both dispensing and non-dispensing closures."
In addition to selling Crown's dispensing closures, Torres & Towers will also act as in-house contract moulder for Crown Zeller, immediately increasing Crown's own minority business spending, it is claimed.
"This strategic alliance with Crown provides us with an advantage within the closures industry," said Ray Torres, president and managing partner of Torres & Towers. "It helps us address the many challenges facing a small, minority-owned business. We can now reach beyond the 'minority business' label and compete on a new level of service, technology and quality."
Crown Holdings is a leading supplier of packaging products to consumer marketing companies around the world, headquartered are located in Philadelphia, Pennsylvania. As of December 31, 2003, the Company operated 186 plants located in 42 countries, employing approximately 27,500 people.
Following a difficult year in 2002, the company recorded a $6.6 billion turnover and cut its net losses down to $32 million, compared to a disastrous loss of $1,205 million in 2002.