Steve Wirrig, former managing director at Rexam, was appointed as CEO of KubeTech. The company has about 500 employees and operates in five manufacturing sites in North America and one site in Poland.
Rexam also sold its Asian cosmetics and plastic packaging businesses. The latter two businesses are being integrated with Sun Capital's existing affiliated portfolio company Albea, a personal and oral care consumer packaging company.
Wirrig told PlasticsToday that it makes sense for KubeTech to operate as an independent business. Prior to Rexam, the now named KubeTech was part of the former Precise Technology organization.
"We have been well established for many years and have a high degree of technical capabilities with the ability to continue to add value," he said. "With good financial position, we think we will have much more flexibility as a standalone organization as we can continue to grow."
KubeTech specializes in cube and stack injection mold design, development and production. The company has more than 40 years of experience in providing complex custom injection molding and assembly expertise for a variety of markets.
Under Rexam, there tended to be a lack of focus on KubeTech's core business, which Wirrig said is custom molding. Wirrig said the company's capability for cube molding is extensive and they look to be the leading operator of cube and stack molds in North America. While they do have a manufacturing site in Poland, Wirrig said their main focus is on North American business.
"We are an organization that has been through multiple ownerships and now that we are on our own we are very excited to focus on our core business," he said. "We're excited to be on our own in the marketplace."