Sonoco Buys Flexible Packaging Maker, Wycon
Feb. 27, 2006 - Sonoco said that it has acquired the packaging assets and business of Wycon Corp., a Waco, Texas-based flexible packaging subsidiary of privately held Seville Flex Pack Corporation.
The purchase price was not disclosed.
The asset purchase includes Wycon's 135,000-square foot facility in Waco, which operates two 12-color rotogravure presses.
"Rotogravure printed flexible packaging makes up nearly 60 percent of Sonoco's flexible packaging annual sales, and we are projecting that our customers' expanding needs will drive average annual double-digit growth in this business over the next several years," said Charles L. Sullivan, executive vice president of Sonoco. "The Wycon facility in Waco is an excellent strategic fit for Sonoco as it provides us with a state-of-the-art facility, an established workforce and a platform to accelerate our flexible packaging growth in the Southwest United States and Mexico."
"We also expect to complete the installation in May 2006 of an additional 8-color flexographic press at our Terrebonne, Quebec, Canada, flexible packaging plant, primarily to serve the confectionery market," Sullivan said.
In addition to the new Wycon plant, Sonoco operates six other flexible packaging converting facilities and two rotogravure cylinder engraving facilities located in the Eastern U.S. and Canada.