- March 01, 1995
Amcor Ltd., Melbourne, Australia, has made an investment in Flexible Holding Inc., Seattle, WA, to help accelerate FHI's growth through its wholly-owned subsidiary, Cello Bag Co.
Cello currently has two manufacturing facilities in Bowling Green, KY, and Tukwila, WA. They manufacture and convert flexible-packaging films for consumer products companies who package fresh and frozen vegetables, disposable diapers, snack foods, paper towels and bathroom tissue.
According to Chris Nix, managing dir. for Amcor's containers packaging group, Amcor plans to provide sizable amounts of capital for FHI to expand internally and through strategic acquisitions.
"We have been searching in the US to make an investment with the right long-term partner for over two years," Nix said. "We have now found them and we believe under the leadership of Jim Ball and his excellent management team.
"FHI will quickly grow and become a dominant player in the US flexible-packaging market. FHI has some of the most modern manufacturing equipment and processes in the world and their printing and film-making technology is on the leading edge."
"This is a great opportunity for FHI and Cello Bag," James R. Ball, chmn. and CEO, FHI, said. "There are many opportunities for growth within our industry and now with the help and the financial prowess of Amcor, we can accelerate our strategic plan."