Plastics & Rubber World - July/August 2019 - 6

news

BUSINESS

Berry Global publishes details
of RPC Group purchase
Evansville, Indiana - Berry
Global Group has released information covering the acquisition of RPC Group.
Berry paid $6.5bn (approx.
£5.1bn) for the Northamptonshire-based packaging specialist. This comprised $4.3bn
(£3.4bn) in cash paid for the
equity interest and $2.2bn
(£1.74bn) of net debt and estimated transaction costs.
The combination of Berry and RPC 'creates a leading
global supplier of value-added
protective solutions and one of
the world's largest plastic packaging companies'.
The resulting group will
have pro forma sales of approximately $13bn (£10.28bn),
covering a 'balanced' selection
of geographies, markets and
substrates.
Commenting on the deal,
Tom Salmon, chairman and

NuSeal packaging solution from Berry Global Group
CEO of Berry Global, said: "The
acquisition of RPC will give us
the opportunity to leverage our
combined know-how in innova-

tive material science, product
development, and manufacturing technologies to create
significant value for our share-

holders. Through this shared
approach, we anticipate approximately $150 million in annual synergies."
The acquisition of RPC was
financed in part with proceeds
from a $1.25bn (£988,000) of
4.875% first priority senior secured notes. A further $500m
(£395,000) of 5.625% second
priority senior secured notes
was also used in the purchase.
Both are due in 2026.
Berry produces plastic
products under a series of
brands, including Qubic food
containers and Ruffies bin liners. Other products include
Iron Force adhesives, and the
Polyken and StopAQ sealing
tapes.
The new group's network
will consist of 290 locations
worldwide, including North and
South America, Europe, Asia,
Africa and Australia.

K SHOW

INEOS to reveal new
styrenic at upcoming
plastics trade fair
INEOS will be presenting a new
styrenic developed by its Styrosolution division at K Show
2019, which will be held at the
Messe Dusseldorf from 16-23
October.
According to Rob Buntinx,
EMEA president at Styrosolution, the new product will be
a sustainable choice intended
to support efforts intended to
advance the circular economy.
Speaking about the move,
he said: "Plastics have been a
revolution, but we have problems with inadequate waste
management. We commit to
bringing styrenic solutions to
market, but [we] also commit
to introducing an end-of-life
solution."

6

WWW.PRW.COM | July/august 2019

The new styrenic will be
supported by Styrenics Circular
Solutions, an industry initiative
intended to increase styrenic
recycling through the use of innovative technologies.
According to Buntinx, this
will include studies of how
chemical recycling can help
to achieve circular economy
goals, as the process eliminates issues related to waste
separation. "When you sort out
the waste [issue], you can collect 99.9% of PS for reuse," he
said.
These comments follow
first production of virgin polystyrene made from only depolymerised material, achieved in
April this year.

Dempolymerisation could make PS infinitely recyclable
INEOS Styrosolution focuses on development of styrene
monomers, polystyrene, ABS
and related specialty products.

The products have a broad
range of applications, including
automotive, electronics, construction and healthcare.
http://WWW.PRW.COM
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