ing for approximately 48 percent of total revenues. The terms of the Acquisition have been approved by the boards of directors of both TC Transcontinen- tal and Coveris Americas. The Acquisition, which re- mains subject to cer tain customar y closing conditions and receipt of applicable antitrust ap- provals, is expected to be completed in the third quarter of TCTranscontinental’s fiscal year 2018. Flexographic Ink Market Worth $4.01 Billion By 2023 A newly introduced market research report shows that the Global Flexographic Ink Market reached $3.6 Billion in 2018, expected to outstrip $4.01 bil- lion over the forecast period from 2018 to 2023 and having a conservative CAGR value of 10.60 percent. Low Migration Inks Market Worth $3.27 Billion By 2023 A market research report on the Global Low Migra- tion Inks Market reports that the market reached $1.96 Billion in 2018 and expected to outstrip $3.27 billion over the forecast period from 2018 to 2023 and to have a conservative CAGR value of 8.90 percent.
Transcontinental, Coveris ( Cont’d from Page 1)
a North American leader in flexible packaging to life,” said François Olivier, President and Chief Executive Of- ficer of TCTranscontinental. “The acquisition of Coveris Americas adds significant depth and scale to our existing platform, with flexible packaging operations now expected to be our largest division in terms of TC Transcontinental’s pro forma revenues based on its fiscal year 2017,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This transaction complements and bolsters our existing product offering in several flexi- ble packaging end markets including dairy, pet food and consumer products. Additionally, it allows us to enter new and attractive flexible packaging end mar- kets such as agriculture, beverage and protein. ” Complementing its solid printing and media opera- tions, this Acquisition significantly diversifies TC Transcontinental's business into flexible packaging. Based on Coveris Americas’ financial results for its fis- cal year ended December 31, 2017, and on TC Transcontinental's financial results for its fiscal year ended October 29, 2017, the pro forma consolidated revenues and Adjusted EBITDA for the combined entity for fiscal 2017 are estimated at C$3.3 billion and C$564 million, respectively, with flexible packaging account-
Flexo Market News April 16, 2018 7
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