Plastipak Packaging Announces Breakthrough Hot-Fill Lightweighting Technology Deal with Tecsor HRBy Prne, Gaea News Network
Wednesday, April 22, 2009
PLYMOUTH, Michigan - Plastipak Packaging, Inc. (”Plastipak”), a wholly owned subsidiary of Plastipak Holdings, Inc., is pleased to announce that it has entered into a perpetual and exclusive worldwide hot-fill technology license with Tecsor HR, a French corporation. Plastipak has the right to sublicense the technology, and also has an option to take an equity stake in Tecsor HR.
The technology includes patented breakthrough bottle lightweighting and reshaping processes that Plastipak expects will revolutionize the global hot-fill market. The technology offers significant material savings, the ability to use high-speed blowmolding/filling lines, and the potential of bottle design flexibility and differentiation. The global hot-fill market includes sports drinks, juice and juice drinks, food, and nutritional supplements. Financial terms of the deal were not disclosed.
The license will allow Tecsor HR’s breakthrough technology to be commercialized by means of Plastipak’s growing customer base, business process expertise, and system integration proficiency. Plastipak expects to apply its existing technology to enhance the Tecsor HR processes, with combined technology expected to bring significant value to its global customers. Initial results under development have been excellent. Commercialization of this innovative bottle shaping technology will be limited during early phase introduction.
Questions regarding commercial opportunities for this technology should be directed to Tim Eppinga, Plastipak’s Vice President for Food Products at +1-734-354-7208 (U.S. area code).
This transaction closed April 1, 2009.
Additional information about Plastipak can be found at the company’s website located at www.plastipak.com .
Source: Plastipak Packaging, Inc.
Tim Eppinga of Plastipak, +1-734-354-7208
Tags: Europe, French, Inc., Michigan, Plastipak Packaging, Plymouth