Beverage packaging firms to join forces
FlexSol Packaging, based in Pompano Beach, Florida and Sigma Plastics Group, head-quartered in Lyndhurst, New Jersey, have formed a strategic partnership.
With more than 600 employees, FlexSol Packaging operates four manufacturing facilities in Pompano, Nashville, Statesville and Chicago. It has a production capacity of over 200 million pounds per year of high quality single and multi layered films and bags. In addition to beverage and food markets, the company also operates in the following markets: Medical/pharmaceutical, printer/laminators, janitorial/sanitation and industrial packaging.
Sigma Plastics Group claims to be the largest privately owned film extrusion group in the US, Canada, Central, and South America. Founded by Alfred Teo in 1978, the company has 36 manufacturing facilities, producing annual through-put of 1.6 billion pounds of resin and employs over 5,000 people.
It manufactures food bags and industrial, commercial plastic film, stretch film, merchandise bags, T-Sacks, industrial trash liners, produce bags, hygiene and agriculture films and garment bags.
Commenting on the new partnership, Brian Stevenson, president of FlexSol Packaging said: “FlexSol is very enthusiastic about this alliance and the foundation it provides for aggressive growth in the years ahead.
“Sigma has earned the reputation of being one of the most financially sound leaders in the flexible films industry and the partnership with FlexSol will allow for strong customer, market and product synergies, he added. “With FlexSol’s financial restructuring now complete, Sigma will become the majority shareholder of FlexSol. The entire FlexSol management team is excited to become part of the Sigma Group.”
Teo said: “FlexSol is a very fine company with an outstanding management team. As one of the original company founders, I have been closely associated with FlexSol for over two decades. I am very excited about the combined opportunities available as FlexSol joins the Sigma family of companies”.
Teo will serve as the chief executive officer for the combined companies.
Meanwhile, in December last year Stretch Film, a division of the Sigma Group expanded its stretch film capacity with the purchase of one blown and one cast film stretch line from Davis-Standard for the company's expanded facility in Tulsa, Oklahoma.
Bob Nocek, president of Sigma Stretch Film said at the time: "We've examined the stretch film market and determined now is an excellent time to position ourselves to meet future growth and customer demands." stated When this installation is completed, Sigma Stretch will have a nameplate capacity dedicated to industrial stretch wrap production, exceeding 480 million pounds.”