TORONTO, ON/ACCESSWIRE/May 16, 2022/ CCL Industries Inc. (“CCL” or “Company”) (TSX: CCL.A) (TSX: CCL.B) Ltd., the global leader in specialty labels, security and packaging solutions for global businesses, government organizations, small businesses and consumers, today announced plans for a major expansion of its Innovia business unit near Leipzig, Germany. The new 8-meter wide multi-layer co-extrusion line will produce highly engineered thin gauge label films to support the sustainability-driven growing demand for materials with a lower resin content. The new technology is unique to label films, with an annual capacity of 36,000 tons designed to achieve best-in-class energy efficiency. Production will start in the second half of 2024 with most of the capital deployed in 2023 and 2024.
Guenther Birkner, President of Innovia, commented, “We see significant growth opportunities with films for pressure sensitive labels and plan to use our existing assets in the UK for best-in-class laminated products and new initiatives, particularly in the graphics and commercial signage sector. The new line in Germany will provide thin films for the label market. Close to many customers.
Jeffrey T. Martin, President and CEO of CCL, concluded, “CCL is the world’s largest converter for label film that directly serves the needs of many global brand owners. This brings the company unique insights into developing materials at Innovia that match customer needs with new assets. In Germany, our strategy at Innovia is to focus heavily on other niche brands and end markets.”
This press release contains forward-looking information and statements (“forward-looking statements”), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements of a predictive nature or that are based on future events or conditions. Forward-looking statements are typically identified by the words “believe,” “expect,” “expect,” “estimate,” “intend,” “plan,” or similar expressions. Statements regarding the Company’s operations, business, financial condition, priorities, objectives, strategies and continuing expectations, other than statements of historical facts, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding the deployment of capital and the time frame for commencement of production.
Forward-looking statements are not guarantees of future performance. they involve known and unknown risks and uncertainties relating to future events and conditions including, but not limited to, the impact of competition; consumer confidence and spending preferences; general economic and geopolitical conditions; currency exchange rates; interest rates and credit availability; technological change; changes in government regulations; operational and product risks; The company’s ability to attract and retain qualified employees. Do not rely excessively on forward-looking statements because the Company’s actual results may differ materially from those projected in these forward-looking statements. Forward-looking statements are also based on a number of assumptions, which may be incorrect, including, but not limited to, assumptions about the following: the global economic environment and increased consumer spending; improve customer demand for the company’s products; Continuation of historical growth trends and market growth in specific segments and entry into new segments; The company’s ability to provide a wide range of products to multinational clients on a global basis; Benefits of focused company strategies and operational approach; Realizing the company’s plans to improve efficiency and reduce costs, including stable aluminum costs. availability of cash and credit; currency exchange rate fluctuations; Resin price fluctuations. Continuing the company’s relations with its clients. Company’s estimated annual cost reductions; and economic conditions. If one or more of the risks materializes or if any assumptions prove incorrect, actual results may differ materially from those expressed or implied in the forward-looking statements. More details on the main risks can be found in the Management Discussion and Analysis section of the 2021 Annual Report, particularly in Section 4: “Risks and Uncertainties”. CCL Industries Inc.’s annual and quarterly reports can be found here. Online at www.cclind.com and www.sedar.com or available upon request.
For more information about CCL, visit – www.cclind.com or contact:
Sean Washock Senior Vice President and Chief Financial Officer 416-756-8526
CCL Industries Inc. It employs approximately 25,100 people working in 204 production facilities in 43 countries with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL is the world’s largest converter for pressure-sensitive, specialty extruded film materials for a wide range of decorative, educational, functional and security applications for government organizations and large global customers in the consumer packaging, healthcare, chemicals, consumer electronics, and automotive markets. Extruded and laminated plastic tubes, aerosols and specialty aluminum bottles, folded educational brochures, embossed and precision-cut components, electronic displays, polymer banknote substrate and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world’s largest supplier of labels, specialty media and software solutions for short-term digital printing applications to businesses and consumers along with complementary products sold through distributors, mass market stores and e-commerce retailers. Checkpoint is a leading developer of RFID and RFID based technology systems for loss prevention and inventory management applications, including labeling and labeling solutions, for the retail and apparel industries worldwide. Innovia is a global leader in the production of specialty, high-performance multi-coater surface-engineered films for labeling, packaging and security applications. The company is integrated partially backwards in materials science with capabilities in polymer extrusion, adhesive development, coating and lamination, surface engineering and metallurgy; It is deployed as needed across the four business segments.
source: CCL Industries Inc.
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