Page 38 - Plastics News March 2022

InterPlastic Signs MoC with Baladna for Packaging Materials

supply locally man- that contributes to achieving food
ufactured quality self-sufficiency in Qatar, Baladna has
plastic packaging a keen focus on promoting the devel-
solutions to Bal- opment of local content and strength-
adna in accordance ening local supply chains. “Our stra-
with international tegic supply chain programme relies
standards. Al Tha- on procurement of raw materials and
ni said: “We are services from local suppliers that meet
pleased to collabo- quality and safety standards. “We
rate with Baladna hope that our partnership with Inter
and support its ef- Plastic will help us further these ob-
ood company Baladna and plastics forts contributing to a self-reliant food jectives.” Baladna currently supplies
Fpackaging firm Inter Plastic has sector in Qatar. The partnership is part more than 95% of Qatar’s fresh dairy
signed a memorandum of cooperation of Baladna’s strategy to encourage eco- products. The company recently ac-
(MoC) wherein Baladna shall pro- nomic and industrial integration and quired a 5% stake in Egyptian- EGX
cure plastic packaging material from interdependence between Qatari firms. listed food company Juhayna Food
the firm Inter Plastic. Baladna CEO The company aims to increase Qatar’s Industries, for around QR67.1m
Piet Hilarides and Inter Plastic chair- in-country value through collabora- ($18.4m), that specialises in the pro-
man Sheikh Hamad Thamer Moham- tions with local manufacturers among duction, processing and packaging
med Jassim Al Thani signed the MoC other ‘economic multipliers’. In doing of dairy, juice and cooking products.
earlier this month. Under the terms so, it aims to boost value for its share-
of the agreement, Inter Plastic will holders. Hilarides said: “As a company

C-P Flexible Packaging Acquires Bass Flexible Packaging

model. Bass co-owner Andrew Shaffer “Combining this unique strength with
said: “We are very proud of our team at their high-growth end markets comple-
Bass and the business that we’ve built. ments C-P’s strategic initiatives in these
“We believe our business is in excellent areas.” The acquisition comes after C-P
hands with C-P Flexible and that the acquired privately held packaging man-
combined resources of the two compa- ufacturer Sycamore Sales, which traded
nies will only strengthen the opportuni- as Preferred Packaging, in October last
ties for both employees and customers.” year. The company now operates a net-
The acquisition is intended to enable work of 11 locations and has more than
S-based flexible packaging com- C-P to enter the confectionery and 1,000 employees in North America. It
Upany C-P Flexible Packaging (C- health and beauty segments, as well as is a portfolio company of First Atlantic
P) has acquired privately held flexible strengthen its short run and short lead Capital, a private equity firm based in
packaging firm Bass Flexible Packag- time capabilities. Bass is also expected the US. First Atlantic Capital chairman
ing for an undisclosed sum. Located in to complement C-P’s converting abili- Roberto Buaron said: “Our goal from
Lakeville, Minnesota, Bass specialises ties. C-P Flexible Packaging CEO Mike the beginning was to create a diverse
in manufacturing stand-up pouches, Hoffman said: “The Shaffers have de- manufacturer of high-quality flexible
premade bags and shrink sleeves. The veloped one of the most agile service packaging products used in a variety of
company aims to deliver a wide range models in the industry at Bass, with markets throughout North America.
of order quantities in short lead times precision focus on the market’s need
through its customer-centric service for short lead times and run lengths.

38 PLASTICS NEWS March 2022