Coveris to Exit European Resin Resale Business

Move in line with Coveris Business System, Focusing on Core Innovations

CHICAGO--()--Coveris™, a global leader in packaging and coatings solutions, announces its intentions to exit the resin resale operation which currently operates within the company’s European Food & Consumer business unit. The company will continue to honor all existing contracts while operations of the resin trade taper off through the end of 2014.

Ending the non-core resin trade is consistent with the strategy of focusing on high valued-added products and innovative solutions.

“The strategic exit of the European resin trading business is in full alignment with our strategy and CBS – the Coveris Business System,” said Gary Masse, CEO Coveris. “Through Commercial Excellence we leverage the very best of the combined companies that make up Coveris to drive innovative solutions for our business partners and growth.”

There are four cornerstones to the Coveris Business System: Operational Excellence, Commercial Excellence, Talent & Leadership and Acquisition Integration.

“We have made tremendous strides in the last year under the Coveris banner and exiting the resin trade allows the EU F&C business to marshal more resources to our core, high-value-added products and customers,” said Stefan Gutheil, President European Food & Consumer.

About Coveris

As a leading international manufacturing company, Coveris is dedicated to providing solutions that enhance the safety, quality and convenience of products we use every day. In partnership with the most respected brands in the world, Coveris develops vital products that protect everything from the food we eat, to medical supplies, to the touch screen device in our pockets, contributing to the lives of millions every day.

Coveris is an affiliated portfolio company of Sun Capital Partners, Inc.

Contacts

Coveris
Chris Swalm, 864-504-6145
chris.swalm@coveris.com

Release Summary

Coveris™announces its intensions to exit the resin resale operation which currently operates within the company’s European Food & Consumer business.

Contacts

Coveris
Chris Swalm, 864-504-6145
chris.swalm@coveris.com