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Coveris plans to exit European resin resale business

Article- Coveris plans to exit European resin resale business

Flexible packaging provider Coveris announced its intensions to exit the resin resale operation that currently operates within the company's European food & consumer business unit. The company will continue to honor all existing contracts while operations of the resin trade taper off through the end of 2014. Coveris is an affiliated portfolio company of Sun Capital Partners Inc.

"The strategic exit of the European resin trading business is in full alignment with our strategy and CBS - the Coveris Business System," said Gary Masse, CEO of Coveris. "Through commercial excellence we leverage the very best of the combined companies that make up Coveris to drive innovative solutions for our business partners and growth."

"We have made tremendous strides in the last year under the Coveris banner and exiting the resin trade allows the EU F&C business to marshal more resources to our core, high-value-added products and customers," said Stefan Gutheil, president of European food & consumer.

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