QUADPACK (EPA:MLQP) Quadpack consolidates and invests in manufacturing to increase efficiency and capabilities to serve growing demand
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Quadpack Industries (Euronext Growth: ALQP), manufacturer and provider of packaging solutions to the global beauty industry, is restructuring its manufacturing footprint in response to increased market demand. Sales turnover in 2022 increased by more than 30% compared to 2021, surpassing pre-COVID levels, with 50% of its revenue coming from products manufactured in-house.
Quadpack is consolidating all plastic injection at its Kierspe site (Germany) for increased efficiency and a more streamlined service to customers. Recognised for its expertise in PET injection, the site manufactures the company's own range of plastic packaging solutions, including jars and airless systems. Further investments have been made to increase capacity and integrate decoration into the production process. The consolidation involves the closure of the operations of Quadpack Plastics in Castellbisbal, Spain, and the transfer of injection assets to the Kierspe plant.
2023 will see Quadpack's manufacturing operations expand into the Americas through strategic partnerships, bringing production closer to its customers in the region for improved time to market and a lower carbon footprint. Further sales growth is expected for the year, with continued high demand for own manufacture. The company's business strategy remains focused on sustainability, performance and financial discipline.
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Contact details
Email: investorrelations@quadpack.com
Further information
www.quadpack.com
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Full and original press release in PDF: https://www.actusnews.com/news/79195-qp-manufacturing-consolidation-re-en.pdf