TEKNI-PLEX ACQUIRES ASSETS OF FIBRO CORPORATION, EXPANDING SUSTAINABLE SOLUTIONS FOR FRESH FOOD APPLICATIONS

WAYNE, Pa., Jan. 19, 2022 /PRNewswire/ -- Tekni-Plex has acquired assets and licensed technologies of Fibro Corporation, a Tacoma, Washington-based company that develops and manufactures innovative molded-fiber packaging. The transaction strategically expands Tekni-Plex's materials science solutions in the fresh food marketplace to include a broader range of sustainable, pulp-based packaging solutions. 

These new resources will become part of Tekni-Plex's Dolco Packaging business effective January 18, positioning the company as the only U.S. supplier of egg cartons manufactured in foam polystyrene, PET, and pulp-based materials. The move also will allow Dolco to expand product offerings beyond its primary focus on egg cartons and meat trays.

"The Fibro transaction aligns well with Tekni-Plex's existing Dolco Packaging business, and will enable us to create a range of best-in-class sustainable solutions while delivering added customer value," said Jay Arnold, Tekni-Plex senior vice president and general manager, Dolco Packaging. "Our intention is to invest further in this innovative technology platform as we scale up, increase capacity, and expand our product lines to bring superior solutions to the broader fresh foods landscape."

Fibro's advanced pulp technologies are the driver behind a revolutionary, smooth-finish, fiber-based egg carton that allows for easier and more precise package printing, improved product protection, and more streamlined packaging line operation. Its acquisition furthers Tekni-Plex's goal of achieving sustainability-minded, material agnosticism across a broad spectrum of packaging solutions. Combined with its recent acquisitions of Keyes Packaging Group and Grupo Phoenix, Tekni-Plex has significantly strengthened its fiber and paper capabilities and increased its ability to provide innovative ways to better protect products, strengthen brands and innovate sustainably.

"With these acquisitions, we are building a material agnostic platform from which Tekni-Plex will provide materials-science based solutions that meet our customers' performance and sustainability needs across a variety of substrates," said Eldon Schaffer, CEO, Tekni-Plex Consumer Products.  "We believe these solutions will be extremely attractive to the high-growth fresh foods markets, especially on the perimeter of the store."

ABOUT TEKNI-PLEX
Tekni-Plex is a globally integrated company that provides innovative solutions through material science and manufacturing technologies. A global leader in the Healthcare and Consumer Product markets, Tekni-Plex provides medical device components and a multitude of material science solutions that lead to a healthier and more sustainable world. Its solutions are found in some of the most well-known names in the Healthcare, Pharmaceutical, Personal Care, Household and Food & Beverage markets. Headquartered in Wayne, Pa., Tekni-Plex employs 7,000 people throughout its operations in Belgium, Brazil, Canada, China, Colombia, Costa Rica, Germany, India, Italy, Mexico, Northern Ireland and the United States. For more information visit www.tekni-plex.com.

SOURCE Tekni-Plex, Inc.