Two US plants to be closed down / 49% equity interest in Chinese cosmetic packaging maker BTY
Aptar’s acquisition of FusionPKG addresses growth in the cosmetics market (Photo: Aptar)
AptarGroup (Crystal Lake, Illinois / USA; www.aptar.com) will close its two US facilities in Stratford and Torrington, both in Connecticut, as part of strategic steps in its Beauty business. The group announced the plans when it released fourth-quarter results, which showed the Beauty and Home segment’s core sales were down 5% due to inventory reductions by several key customers and the passing through of lower resin costs. The segment dropped 1% for full-year 2019. The Pharma as well as Food and Beverage business units, however, increased full-year core sales 10% and 3%, respectively.

The US group’s 2019 sales rose around 3% to USD 2.86 bn (EUR 2.51 bn). Core sales, which exclude currency effects and acquisitions, also gained around 3%. Net income was USD 242m, up 24%.

Aptar said it would cost about USD 20m to close the two sites and transfer production to its other North American plants by the end of 2020. CEO Stephan Tanda told analysts that in 2019 alone, Aptar sold its US moulding facility in Libertyville, Illinois, and streamlined operations in other regions, such as in Argentina, India and Indonesia.

Tanda said the Connecticut consolidation is part of initiatives to strengthen the Beauty segment including deals to buy an initial 49% equity interest in China’s BTY and the acquisition of Fusion Packaging – see Plasteurope.com of 21.02.2020.
13.03.2020 Plasteurope.com [244685-0]
Published on 13.03.2020
Aptar: CEO Tanda warnt vor Corona-AuswirkungenGerman version of this article...

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