Packaging
Exopack and INDEVCO sign joint venture agreement
Tuesday 05. May 2009 - Exopack, an established leader in the development and manufacture of a variety of paper and plastic flexible packaging solutions, signed a joint venture agreement this week with Lebanon-based packaging manufacturer INDEVCO Group (INDEVCO) to manufacture co-extruded polyethylene film in the Middle East.
Initially, this joint venture will include the installation of film production equipment in INDEVCOs Masterpak sal flexible packaging facility in Zouk Mosbeh, Lebanon. This new extrusion capacity will be used for the manufacture of various coextruded film products for use in flexible packaging. The film will be distributed by Exopack as part of the companys family of film products.
Exopack and INDEVCO have shared a long-term relationship through Exopacks Global Packaging Linx (GPL) group. These two companies share common competencies in film production and flexible packaging manufacture to support customers from a global sourcing and innovation perspective. This joint venture represents the strengthening of this relationship and brings the first cost-effective films from the Middle East to customers in North America.
This joint venture is the initial phase of a longer-term strategy to continue to build multiple film production sites in the Middle East. This will allow Exopack and INDEVCO to take advantage of the new polymer manufacturing capacity coming on stream in the Middle East in light of the increased economic advantage of ethylene production in this region of the world.