Coveris has agreed to take over the business and assets of GEFO Folienbetrieb, a cast polypropylene (CPP) film manufacturer in Gera, Germany.
Financial terms of the deal remain undisclosed
The transaction gives Coveris additional CPP production capacity and extends its presence in speciality CPP uses. The move comes after investment in film extrusion equipment across the group’s sites. Coveris is increasing its CPP extrusion footprint in response to demand for recyclable mono-material packaging formats.
The deal adds to its recyclable packaging range and is intended to support its ‘No Waste’ sustainability vision and increasing vertical integration across its network. It said the added capacity may help customers prepare for the European Packaging and Packaging Waste Regulation (PPWR) and Extended Producer Responsibility (EPR) rules. Before the deal, Coveris Kufstein was Coveris’ only CPP extrusion facility and was running at full capacity, according to the statement.