Shareholder group sues Reynolds over Pactiv deal
A wrench has been thrown into Reynolds Group’s $6-billion bid to buy flexible- and foodservice-packaging converter Pactiv, reports Packaging News. A shareholder group, based in Illinois, has filed a lawsuit against Reynolds, calling the deal “fundamentally unfair” to shareholders. The pension fund–a plumbers and pipefitters union plan–filed its case on Wednesday. The union plan said that the price offered–$33.25 per share, about a 30% premium on the trading price–was fundamentally unfair and company directors had undervalued the company. More info
Printable antimicrobial coatings fit most substrates
Ink and coating supplier Flint Group is developing an active antimicrobial coating suitable for application on most substrates and via all major printing methods.
Proven in hospital real-time studies and supported by independent lab data, the Biomaster technology works via release of silver ions on demand which in turn safely inhibit bacteria growth.
The inorganic nature, small particle size and high-temperature tolerance of the product are said to make it ideal for antibacterial coatings.
Biomaster products contain typically 10 times more silver than other silver biocides, and consequently they need very low concentrations. Results are reportedly impressive—reducing bacterial levels by 99.99%. More info
US cup and lid demand to exceed $8 billion in 2014: study
Expected to increase 4.4% a year, domestic demand for cups and lids will reach $8.2 billion in 2014, says a new Freedonia Group study. Value gains will be aided by increasing demand for eco-friendly cups, such as those made from higher-value biodegradable resins or with recycled content. Packaging cups will register faster gains due to continued expansion in key applications such as yogurt, ice cream novelties and dry coffee as well as development of newer uses. Innovations such as lidded single-serving ketchup cups that allow either dipping or squeezing will boost packaging cup demand at the expense of conventional flexible packets. Growth in lid demand will outpace that of cups. Faster growth is expected for lids in packaging applications. More info
FPA offers 2009 Fourth Quarter Earnings Report
The Linthicum, MD-based Flexible Packaging Assn. says net profit before taxes as a percent of sales for the industry increased slightly to 5.6% (Q4 2009) from 4.9% in the same period in 2008. The 2009 Fourth Quarter Earnings Report provides key benchmarks on financial and operating expenses for FPA converter members. FPA says that 55% of its converter membership participated in the survey, including a cross-section of small, mid, and large/very large converter companies. More info
Specialty film maker orders GEC blown-film equipment
A Southeast Asia-based converter of medical and apparel films places a $3.3-million order for new blown-film equipment. The customer has had a relationship with Gloucester Engineering Co. for more than 15 years. The equipment will be shipped in the fourth quarter of 2010. More info
Eagle Flexible Packaging opens new high-tech IL plant
With the addition of two new production lines, the printer/converter invests in a new state-of-the-art manufacturing facility in Batavia, IL. The company sets its sights on Operational Excellence through new workflow optimization. Over the last four years, Eagle has expanded its space at its current location, and invested heavily in new technology. The new facility will house Eagle’s entire team – sales, marketing, operations, finance, prepress and most importantly, manufacturing. More info
