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Berry to invest $80 million in new thermoforming operation
Berry Plastics (Evansville, IN) will invest $80 million in building and equipment for an expansion of its thermoforming operations. Startup is targeted for the first quarter of 2010, and as yet, the company has not settled on a site for the expansion, but believes it will create 150 new jobs.
Tony Deligio
January 22, 2009
1 Min Read
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Berry Plastics (Evansville, IN) will invest $80 million in building and equipment for an expansion of its thermoforming operations. Startup is targeted for the first quarter of 2010, and as yet, the company has not settled on a site for the expansion, but believes it will create 150 new jobs. In a release, Jonathan Weinzapfel, mayor of Evansville, IN, where Berry is headquartered, said his city will “do all that we can to ensure this new investment and job creation happens in Evansville.” Berry had already recently invested $40 million dollars in Evansville, for an expansion of its global headquarters on Oakley Street and a new warehouse/distribution center at the Evansville Regional Airport, with those initiatives resulting in 300 new jobs.Berry’s in-house thermoforming capabilities go back to 2001, and they were expanded in 2003 with the acquisition of Landis Plastics Inc.’s five U.S. plants for $228 million. More recently, Berry acquired certain assets of Erie County Plastics Corp., a custom injection molder of plastics packaging and components. Erie filed for bankruptcy protection on Sept. 29, 2008.
Primarily through 21 acquisitions starting in the ‘90s, Berry has grown to include nearly 14,000 employees and 66 U.S. manufacturing sites, as well as operations in Mexico, Canada, Italy, Belgium, and China. Berry is owned by private equity investors, Apollo Management L.P. and Graham Partners Inc., which purchased the company in 2006. Berry’s management team also holds a stake.—[email protected]
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