CHICAGO, Aug. 22, 2023 (GLOBE NEWSWIRE) -- TC Transcontinental Packaging, the Packaging Sector of TC Transcontinental (TSX: TCL.A TCL.B), announces an investment of $60M US (approximately $80M CAD) toward the development of cutting-edge mono-material recyclable flexible plastic packaging solutions, providing high-performance polyethylene films with more heat resistance. In addition to a new innovative film line that will produce biaxially oriented polyethylene (BOPE), a first in North America, the investment includes ancillary equipment and a 120,000 sq. ft building expansion in TC Transcontinental Packaging’s Spartanburg, South Carolina facility.
“This new offering will be a game changer in TC Transcontinental's recyclability journey, demonstrating our commitment to distinguish ourselves and gain market share with innovative sustainable solutions for our customers,” said Thomas Morin, President and CEO of TC Transcontinental. “Our offering aligns with our customers’ desire to accelerate speed to market with recyclable products that also protect and preserve their contents throughout their lifecycle, in addition to creating a more circular economy for plastic.”
“Our investment in BOPE is a strategic decision that positions us to address sustainability shortcomings in existing offerings. This new equipment will advance the commercialization of recyclable film solutions to meet the challenging requirements of our different applications without sacrificing fill speed or performance,” added Alex Hayden, Senior Vice President, R&D, Innovation, Sustainability and ESG at TC Transcontinental.
This investment is well underway and is expected to be completed in fiscal year 2024. TC Transcontinental Packaging has selected Brückner, a global leader in the field of film production and technology with an outstanding reputation for high quality and innovation, to supply equipment for this BOPE film line.
TC Transcontinental Packaging is a leader in sustainable product development through investments in its R&D team and technologies, and the dedication of its people. Its vieVERTe® sustainable product portfolio leverages the benefits of flexible packaging, such as extending shelf life, reducing food waste, and providing product protection, while reducing its environmental footprint. vieVERTe® includes packaging solutions that are recyclable, compostable, and made from post-consumer recycled (PCR) content.
For more information about TC Transcontinental Packaging’s new assets and capabilities, please visit www.tc.tc/packaging.
About TC Transcontinental Packaging
TC Transcontinental Packaging, the Packaging Sector of TC Transcontinental (TSX: TCL.A TCL.B), is a leader in flexible packaging with operations mostly in the United States, as well as in Canada, Guatemala, Mexico, Ecuador, Colombia, the United Kingdom and New Zealand with approximately 4,000 employees. Its platform is comprised of one premedia studio and 28 production plants specializing in recycling, extrusion, lamination, printing and converting. TC Transcontinental Packaging offers a variety of flexible plastic products, including rollstock, bags and pouches, shrink films and bags, and advanced coatings, servicing a variety of markets, including dairy, coffee, meat and poultry, pet food, agriculture, beverage, home, and personal care, industrial, consumer products and medical. For more information, visit TC Transcontinental Packaging's website at www.tc.tc/packaging.
For more information:
Media
Abbie Ansburg
Marketing Communications Manager
TC Transcontinental Packaging
773-756-5233
abbie.ansburg@tc.tc
Financial Community
Yan Lapointe
Director, Investor Relations and Treasury
TC Transcontinental
514 954-3574
yan.lapointe@tc.tc
Photos accompanying this announcement are available at:
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