Sunday, May 10, 2009

Exopack and INDEVCO Sign Joint Venture Agreement

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SPARTANBURG, S.C. - (Business Wire) Exopack, an established leader in the development and manufacture of a variety of paper and plastic flexible packaging solutions, signed a joint venture agreement this week with Lebanon-based packaging manufacturer INDEVCO Group (INDEVCO) to manufacture co-extruded polyethylene film in the Middle East.

Initially, this joint venture will include the installation of film production equipment in INDEVCO’s MASTERPAK sal flexible packaging facility in Zouk Mosbeh, Lebanon. This new extrusion capacity will be used for the manufacture of various coextruded film products for uses in flexible packaging. The film will be distributed by Exopack as part of the company’s family of film products.

Exopack and INDEVCO have shared a long-term relationship through Exopack’s Global Packaging Linx (GPL) group. These two companies share common competencies in film production and flexible packaging manufacture to support customers from a global sourcing and innovation perspective. This joint venture represents the strengthening of this relationship and brings the first cost-effective films from the Middle East to customers in North America.

This joint venture is the initial phase of a longer-term strategy to continue to build multiple film production sites in the Middle East. This will allow Exopack and INDEVCO to take advantage of the new polymer manufacturing capacity coming on stream in the Middle East in light of the increased economic advantage of ethylene production in this region of the world.

About INDEVCO Group
Founded in 1955 by Georges N. Frem, INDEVCO Group is a privately-owned multinational group comprised of 50 manufacturing plants, industrial & commercial enterprises. The oldest and largest flexible packaging company in the Middle East, INDEVCO has a global production and distribution platform for its products and services, including nine manufacturing sites in North America.

About Exopack
With 18 production facilities strategically positioned across North America and the United Kingdom, as well as a global network of alliance partners, Exopack is an established leader in the development, manufacture and sourcing of paper and plastic flexible packaging solutions and film coatings for a variety of consumer and industrial applications. Exopack is an affiliated portfolio company of Sun Capital Partners, Inc.

Chris Swalm
Tel: 864-596-7116
Fax: 864-596-7157

CEDEX Plastics sal is an Exopack - INDEVCO Joint Venture

Zouk Industrial Complex
Zouk Mosbeh, Lebanon
PO Box 11-2354 Beirut, Lebanon

Tel:+961-9-209 001
Fax:+961-9-209 002

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