Packaging Solutions Holdings to Build $20 Million Greenfield Packaging Plant in Midwest
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Packaging Solutions Holdings, Inc., New York, N.Y., USA, the new packaging company formed by Wellspring Capital Management and industry veteran Harold Bevis, has announced that it will build a new state-of-the-art, greenfield packaging plant in the Midwest. The company plans to begin operations of its new plant in mid-2011, with a location to be decided shortly.
The new plant will design and manufacture food and medical packaging using new tandem-head, multi-layer extrusion laminating equipment; quick-change, new 10-color printing press equipment; new high-speed winding equipment; and new laser scoring and laser perforating equipment.
"The addition of the new machines in this plant and our $20 million investment in the new facility underscores our commitment to building a new high-end packaging company and our plan to grow it through capacity expansion, greenfield investments, organic growth, and synergistic acquisitions," said Harold Bevis, chairman and CEO of Packaging Solutions Holdings.
The new plant will operate as a new division of Jen-Coat, an operating division of Packaging Solutions Holdings. The equipment will be custom-made by Davis-Standard, LLC Converting Systems and then modified in-house by Jen-Coat personnel. The new location will also be able to produce almost all of Jen-Coat's current product lines and provide back-up plant capability. The new location in the Midwest will complement the Westfield, Mass., location by providing faster service for customers in the West, Midwest, and Southwest U.S. and Western Canada.
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