Elopak to build a new production plant in the USA, continuing profitable growth in Americas
Elopak has announced that it will build a new plant in the USA to better serve its customers in the Americas and accelerate growth in the region. The new plant will allow Elopak to build on an already strong track record of organic and profitable growth driven by high customer demand in the region.
Elopak will invest around USD 50 million (including lease liability) in the new plant over the period 2023 – 2024. The investment will be financed by utilizing Elopak’s existing Revolving Credit Facility. The plant is expected to commence production in the fourth quarter of 2024 and will create more than 100 new jobs.
Lionel Ettedgui, EVP North America says: “Over the last few years, Elopak has delivered very strong profitable growth in Americas. The time has now come to increase capacity to further strengthen our organization and enable us to provide quality service to our customers in Americas faster and more efficiently.”
Thomas Körmendi, CEO says: “I am truly excited about this investment. This is a response to the strong demand that we are seeing for our innovative and sustainable solutions. It is a landmark investment for our company as Americas is one of the key building blocks of our strategy.”