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Sigma Plastics Group & Flexsol Packaging Corp Announce Strategice Partnership
Pompano Beach, FL - July 7, 2009
Alliance will bring strong market and product synergies to customers
FlexSol Packaging Corp and Sigma Plastics Group announced today a strategic partnership. This alliance brings together two well known industry leading film producing companies.
"FlexSol is very enthusiastic about this alliance and the foundation it provides for aggressive growth in the years ahead," said Brian Stevenson, President of FlexSol Packaging Corp. "Sigma has earned the reputation of being one of the most financially sound leaders in the flexible films industry and the partnership with FlexSol will allow for strong customer, market and product synergies. With FlexSol's financial restructuring now complete, Sigma will become the majority shareholder of FlexSol. The entire FlexSol management team is excited to become part of the Sigma Group." Mr. Teo said, "FlexSol is a very fine company with an outstanding management team. As one of the original company founders, I have been closely associated with FlexSol for over two decades. I am very excited about the combined opportunities available as FlexSol joins the Sigma family of companies".
Headquartered in Pompano Beach, FL, FlexSol Packaging has over 600 employees working out of four strategically located manufacturing facilities. The company has production capacity in excess of 200 million pounds per year of high quality single and multi layered films and bags. It services a variety of key markets including food and beverage, medical/pharmaceutical, printer/laminators, Janitorial/Sanitation and industrial packaging.
FlexSol's unwavering commitment to provide quality products and innovative solutions is the cornerstone for its past successes and future growth.
As part of the strategic partnership, Alfred Teo will serve as CEO for the combined companies.
About FlexSol Packaging Corp:
Founded in 1999, FlexSol Packaging Corp, is headquartered in Pompano Beach, FL. It manufactures over 200 million pounds of high quality single and multi-layered films and bags out of four manufacturing facilities.
About The Sigma Plastics Group:
The Sigma Plastics Group was founded in 1978 by Alfred Teo and is the largest, privately owned film extrusion group in the United States, Canada, Central, and South America. Based in Lyndhurst, New Jersey, the company has 36 manufacturing facilities, producing annual through put of 1.6 billion pounds of resin and employs over 5,000. Sigma Plastics Group manufactures industrial, commercial plastic film, stretch film, merchandise bags, T-Sacks, industrial trash liners, produce bags, hygiene and agriculture films, garment bags, and food bags.
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