Ultimate Packaging Invests In Bobst Press
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Ultimate Packaging, a UK flexible packaging manu- facturer, has invested in a new Bobst 20SIX CS print press, with further plans to invest in an additional laser perforation machine in January 2019. The new 20SIX CS 8-color press features a down- stream unit for film coating with a web width of 1300mm and speed of 500 meters per minute. The press also allows Ultimate to print using water based inks opening up new markets. Graphic Packaging Acquires Letica Foodservice Assets Graphic Packaging International, LLC, has reached an agreement to acquire substantially all the assets of the foodservice business of Letica Corporation, a sub- sidiary of RPC Group PLC, for $95 million, subject to standard closing conditions and regulatory review. The transaction is expected to close in the third quarter of 2018. Letica Foodservice is focused on the production of paperboard-based cold and hot cups and cartons for the foodservice market in North America.The compa- ny operates two foodservice converting facilities in Clarksville,Tennessee, and Pittston, Pennsylvania. The business generated $110 million in revenue and converted approximately 40 thousand tons of solid bleached sulfate paperboard in the twelve months ended June 30, 2018. Synergies from the ac- quisition will be driven by the integration of addi- tional SBS paperboard tons, lower logistics costs, and other cost efficiencies. On a post-synergy basis, the EV/EBITDA multiple for this transaction is expected to be approximately 6X. Harper Sees Large Turnout At Tennessee Event Harper Corporation of America hosted its most re- cent Harper Expo & Solutions Tour event in Chat- tanooga, Tennessee. The event reportedly exceeded capacity. In addition to Harper Corporation and Harper GraphicSolutions representatives, there were also speakers from MacDermid, Eaglewood Technologies, Nazdar, and Phoseon Technology. The final stop on the 2018 Harper Expo & SolutionsTour will be in Brooklyn Center,Minnesota,onThursday,October 25,at the Embassy Suites Minneapolis North.Presenters will include Harper Corporation ofAmerica,Harper GraphicSolu- tions, Flexo Wash, GEW Limited, Meca Solutions, and Ener- con Industries.
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4 September 3, 2018 Flexo Market News
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