Silgan buys plastic closure manufacturer IPEC

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Silgan Holdings announced this week that it has acquired IPEC, a plastic closure manufacturer that serves primarily the North American dairy and juice markets.

IPEC, which had sales of approximately $35m for the last twelve months is headquartered in New Castle, Pennsylvania.

"We believe IPEC provides an excellent line extension to our closures business,"​ said Bob Lewis, silgan's executive vice president and chief financial officer, "With manufacturing facilities in New Castle, Pennsylvania and Brewton, Alabama, we believe IPEC has built a strong competitive position in plastic closures for the dairy and juice markets.”

“Combined with our existing closures business, this transaction provides new opportunities to broaden our existing franchise,"​ Lewis concluded.

US-based Silgan produces blow molded bottles and injection molded closures as well as metal food containers.

Last year, the company reported annual net sales of approximately $3.07bn.

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