D&W Fine Pack CEO Mark Staton told Plastics Today growth potential is "promising" regarding the company's recent purchase of the thermoforming division of Clear Lam Packaging.
With annual sales of approximately $80 million, the Clear Lam thermoforming division is a supplier of food packaging containers made from polyethylene terephthalate and polylactic acid to North American food processors and retailers. The sale includes facilities located in Elk Grove Village, IL; Vernon, CA; and one international facility in Nanjing, China.
"It fits well with our existing technology base and widens our presence in the grocery/packer/processor market," Staton said. "Also the operation in China gives us a valuable base in a fast developing market in its own right. Allied with that, it gives us an opportunity to use it both for manufacturing and sourcing in Asia."
Regarding any future acquisitions, Staton said D&W will continue to appraise any additional vehicle that fits with its strategic vision.