MOSCOW (MRC) -- Rigid packaging supplier Silgan Holdings Inc. has acquired Cobra Plastics Inc., an injection molder of plastic closures for a wide variety of consumer products, said Canplastics.
The financial terms of the deal have not been disclosed. Cobra currently operates from two manufacturing facilities located in close proximity to one another in Macedonia, Ohio. The company has a particular focus on injection molding for the aerosol overcap market.
"The acquisition of Cobra Plastics expands the product offering of our global closures franchise into a variety of new markets and applications,” Adam Greenlee, president of Silgan, said in a Feb. 5 statement. “The combination of Cobra’s overcap product line with our aerosol actuators and dispensing systems will allow Silgan to offer a broader range of integrated solutions, including functional overcaps, to meet the unique needs of our customers."
As MRC wrote previously, Russia's output of chemical products dropped by 3.2% in November 2019 month on month. However, production of basic chemicals increased by 3.6% in the first eleven months of 2019, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, the largest increase in production volumes on an annualized basis accounted for mineral fertilizers and polymers in primary form. Last month, 255,000 tonnes of ethylene were produced versus 210,000 tonnes in October; by November, Russian producers had completed all their scheduled works. Thus, 2,721,000 tonnes of this olefin were produced in January-November 2019, up by 0.3% year on year.
Headquartered in Stamford, Conn., Silgan operates 100 manufacturing facilities in North and South America, Europe and Asia. The company supplies metal and plastic closures and dispensing systems for food, beverage, health care, garden, personal care, home and beauty products. Silgan also supplies plastic containers for shelf-stable food and personal care products in North America.
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