Minneapolis, MN – AWT Labels & Packaging Inc. (AWT), a leading provider of specialty labels and packaging for the healthcare, personal care, food & beverage, and durable end markets, today announced the acquisition of MacArthur Corporation.

Headquartered in Grand Blanc, MI, MacArthur is a world-class manufacturer of innovative labels, tags, decals, and functional film components for the mobility, electronics, health technology, and industrial sectors. MacArthur serves Global 500 customers and their suppliers with custom-engineered solutions built for challenging environments, and the company integrates enhanced features including serialized barcoding, RFID, anti-counterfeit, anti-tamper, and anti-microbial technologies into its products. The business will continue to operate under the MacArthur Corporation name.

“We are incredibly excited to have MacArthur join the AWT family,” said Bruce Hanson, CEO of AWT. “Christie and Tom Barrett have built an outstanding business that shares our core values of providing innovative solutions, industry-leading service, and the highest degree of quality to our customers while creating an environment for our employees to develop and thrive. MacArthur is the first acquisition made by AWT under the ownership of Morgan Stanley Capital Partners, and we are excited to continue acquiring great businesses and partnering with great teams across the Labels and Flexible Packaging space.”

AWT’s acquisition of MacArthur will broaden the Company’s end market knowledge, engineering expertise, and manufacturing capabilities, expanding the product mix and further building on the Company’s value proposition for existing and new customers.

“We are thrilled with the opportunity to become part of AWT to continue growing and expand the range of solutions offered to our customers. Our cultures align in delivering lasting value to our customers and a positive working environment for our team,” said Christie Wong Barrett, CEO of MacArthur. “With AWT’s strong operations expertise, broad facility network, and national resources, we will continue to enhance our manufacturing and engineering capabilities,” said Tom Barrett, President of MacArthur.

The combined business will provide a full suite of Label and Flexible Packaging solutions to customers both in North America and Internationally.

About AWT
Founded in 1991, AWT is a narrow and wide web converter of labels and flexible packaging focused on the Healthcare, Personal Care, Food, Beverage, and Durable end markets. AWT’s primary business is converting film and paper substrates into pressure-sensitive labels, shrink-sleeves, extended content labels, digital labels, flexible packaging, and other specialty products for a variety of applications and end markets. The company uses the latest in flexographic and digital printing equipment, and currently operates facilities in Minneapolis, Minnesota (HQ), South Elgin, Illinois, and Hauppauge, New York (Citation Healthcare Labels). More information about AWT can be found at www.awtlabelpack.com

About MacArthur Corporation
MacArthur Corporation manufactures innovative labels, tags, decals and functional film components for the mobility, electronics, health technology, and industrial sectors.  For over 50 years, MacArthur has engineered flexible solutions for many of the largest global brands. The company serves customers in more than 20 countries from operations in the US, Poland, and China. More information about MacArthur can be found at  www.macarthurcorp.com

Creates one of the largest providers of virgin fiber paper and packaging with a cost and quality advantage

BillerudKorsnäs has entered into a merger agreement with Verso Corporation (Verso) under which BillerudKorsnäs has agreed to acquire Verso, a leading producer of coated papers in North America, for a purchase price of approximately USD 825 million in cash. Verso’s Board of Directors, acting upon the recommendation of a special committee, has unanimously approved, and resolved to recommend the transaction to Verso’s shareholders. The transaction is expected to close in the second quarter of 2022.

• BillerudKorsnäs has entered into an agreement to acquire Verso for a purchase price of approximately USD 825 million in cash, corresponding to USD 27.00 per share.

• Verso is a leading producer of coated papers in North America with reported net sales for the last twelve months ended 30 September 2021 of USD 1 264 million and adjusted EBITDA of USD 158 million.

• The purchase price corresponds to an enterprise value / adjusted EBITDA multiple of approximately 6x for the last twelve months ended 30 September 2021. The acquisition will immediately be accretive to earnings per share and create significant shareholder value over time with a more profitable product mix.

• BillerudKorsnäs will build one of the most cost-efficient and sustainable paperboard platforms in North America by converting some of Verso’s assets into paperboard machines with an estimated capex of up to SEK 9 billion.

• The acquisition and transformation will be financed through a combination of a rights issue of up to SEK 3.5 billion, additional debt and operating cash flow.

• The acquisition is expected to close in the second quarter of 2022, subject to the approval of Verso’s shareholders as well as the receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.

Strategic rationale: Profitable and sustainable revenue growth

The acquisition of Verso is fully in line with BillerudKorsnäs’ strategy to drive profitable growth in paperboard, and the ambition to expand into North America. BillerudKorsnäs aims to build one of the most cost-efficient and sustainable paperboard platforms in North America by converting several of Verso’s assets into paperboard machines while maintaining its position as quality and cost leader in speciality and coated woodfree paper.

Verso’s strategic assets are positioned in a region with abundant and cost-effective fibre supply suitable for production of premium packaging materials. Verso’s location also presents favourable export opportunities to both Asia and Europe. Verso will become the platform for BillerudKorsnäs’ future expansion in North America and is expected to provide continuous growth opportunities over the next ten years and beyond. The combined company will be one of the largest providers of virgin fibre paper and packaging with a cost and quality advantage.

“The combination of BillerudKorsnäs’ expertise in high-quality virgin fibre packaging materials and Verso’s attractive assets creates an excellent platform for long-term profitable growth. We will obtain cost-effective production of coated virgin fibre material in the Midwestern United States. We also plan to sequentially transform part of the business into paperboard production while continuing to serve the U.S. customers. Our investments will create new US-based jobs in a growing market and accelerate the transition from plastic-based packaging materials to renewable sources,” said Christoph Michalski, President and CEO of BillerudKorsnäs.

Converting assets into board production

The plan is to convert Verso’s largest facility, its Escanaba mill, into a world-class, sustainable, fully integrated paperboard production site. One machine is estimated to be converted by 2025, a second machine by 2029, to a total capacity of around 1 100 ktonnes. BillerudKorsnäs estimates that the investment for the conversion project will be up to SEK 9 billion, whereof around two thirds to be invested up to 2025 and the remainder up to 2029. The increased net capacity of around 400 ktonnes compared to today together with a more profitable product mix will create significant shareholder value over time.

In addition to continued paper production in Escanaba during the conversion, BillerudKorsnäs plans to continue operating the Quinnesec mill. It has an annual capacity of around 400 ktonnes of paper and 200 ktonnes of market pulp and is a cost and quality leader in graphical paper, specifically in coated woodfree and specialty papers. BillerudKorsnäs is committed to continuing to serve Verso’s existing customers.

The acquisition

The acquisition will be effected pursuant to a merger agreement under which Verso will merge with a wholly-owned subsidiary of BillerudKorsnäs. BillerudKorsnäs will pay holders of Verso’s issued and outstanding shares of common stock, subject to certain exceptions, an all-cash price of USD 27.00 per share, corresponding to an enterprise value of approximately USD 970 million (approximately SEK 8 770 million1 inclusive of Verso’s cash, net debt and other debt-like items as of 30 September, 2021.

The consideration corresponds to a premium of 26% compared to Verso’s volume-weighted average share price during the last 30 trading days and a premium of 35% compared to the closing price of Verso’s shares on 17 December 2021.

Combined net sales for BillerudKorsnäs and Verso for the twelve months ended 30 September 2021 amount to approximately SEK 36.7 billion and combined adjusted EBITDA for the same period is approximately SEK 5.0 billion (pro forma, 1 October 2020–30 September 20211).

A special meeting of Verso’s shareholders is expected to be convened following the mailing to Verso’s shareholders of a proxy statement for the transaction. Verso’s Board of Directors, acting upon the recommendation of a special committee, has unanimously approved and resolved to recommend the transaction to Verso’s shareholders.

The transaction is expected to close during the second quarter of 2022, subject to the approval of Verso’s shareholders, as well as receipt of applicable regulatory approvals and satisfaction of other customary closing conditions. Closing of the transaction is not subject to any financing condition.

Financing of the acquisition and the conversion

The acquisition and transformation will be financed through a combination of rights issue, additional debt and operating cash flow.

BillerudKorsnäs has entered into a new credit facility of SEK 6 000 million, provided by Danske Bank and SEB, intended to be utilized for this purpose. This credit facility is planned to be refinanced by issuance of debt instruments and an equity rights issue.

After the completion of the transaction and prior to the rights issue, BillerudKorsnäs’ interest-bearing net debt to adjusted EBITDA ratio (pro forma twelve months ending 30 September 2021) is estimated to be around 2.7x, temporarily higher than its target level of below 2.5x.

BillerudKorsnäs’ Board of Directors intends to propose to a general meeting of BillerudKorsnäs’ shareholders that the Board of Directors be authorized to resolve upon a rights issue of up to SEK 3 500 million. The rights issue is planned to be carried out in 2022 following completion of the transaction. BillerudKorsnäs’ four largest shareholders, AMF Pension and Funds, FRAPAG Beteiligungsholding, Swedbank Robur Funds and The Fourth Swedish National Pension Fund, which together hold around 37.7% of BillerudKorsnäs’ share capital, support the acquisition and have expressed their intention to vote for the rights issue and subscribe for their pro rata share.

Danske Bank and SEB, acting as financial advisors to BillerudKorsnäs in relation to the rights issue, have confirmed their commitment, subject to customary conditions and subject to BillerudKorsnäs obtaining binding subscription commitments for at least 25% of the rights issue, to enter into an underwriting agreement in connection with the rights issue. The rights issue will, by way of the shareholder commitments and the underwriting by Danske Bank and SEB, be fully covered.

Financial targets remain

BillerudKorsnäs will maintain its financial targets as communicated at the Capital Market Day in November 2021. The long-term targets are: Net sales growth of 3-4% per year, EBITDA margin >17%, Net debt / EBITDA <2.5x and Dividend >50% of net profit.  

Acquisition-related costs of around SEK 135 million will be reported in the fourth quarter results of 2021 as an item affecting comparability.

Advisors

BofA Securities serves as exclusive financial advisor. Skadden, Arps, Slate, Meagher & Flom LLP serves as U.S. legal counsel and Cederquist serves as Swedish legal counsel to BillerudKorsnäs. Rothschild & Co serves as exclusive financial advisor and Kirkland & Ellis LLP serves as legal counsel to Verso.

About Verso Corporation
Verso Corporation (Verso) is a leading American producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso is headquartered in Miamisburg, Ohio, and have two paper mills in Michigan, a roll to sheet converting facility in Wisconsin (paper production idled), and two distribution centres in Sauk Village, Illinois and Bedford, Pennsylvania. The production facilities are strategically located within close proximity to major customers, and the annual production capacity totals around 1.1 million tonnes of paper. Verso has around 1,700 employees. For the twelve months ended 30 September 2021, Verso’s net sales amounted to USD 1 264 million. Verso is listed on the New York Stock Exchange.

For more information, see www.versoco.com

Cohoes, NY – Macaran Printed Products, a third-generation supplier of high-quality label and packaging solutions, announced today that Nick VanAlstine will transition the role of President to current Executive Vice President Tom Sargent. Mr. VanAlstine will remain as CEO. The change in leadership is effective January 1, 2022.

Mr. VanAlstine joined the family business in 1974 and was named president and CEO, succeeding his father Bill VanAlstine, in 1992. Under his leadership, Macaran has grown to become an industry-leader, providing label and packaging solutions to some of the world’s best known, mid-market brands.

Mr. Sargent joined Macaran in 2020 bringing more than 30 years of experience and leadership success in the flexible packaging and label-printing industry.

During his time with Macaran, Mr. Sargent has worked closely with Mr. VanAlstine gaining valuable insight into the financial, business and operations of the company. More recently, Sargent has led the development of an overarching growth strategy currently being implemented across the enterprise.

“Long-term leadership succession has been an important area of focus since my Father took over for my Grandfather in 1952,” offered Nick VanAlstine.  “Facilitating a smooth and thoughtful transition will ensure our employee-owned company continues to grow and prosper,” he added.

In his new role as President, Sargent will oversee the executive management team including Finance, Sales and Operations. He will be responsible for setting the vision and mission of the company, ensuring financial stability and continued growth. He will also be appointed to the board of directors

“This change in leadership marks the first time in our history a VanAlstine has not been President of Macaran. I can attest to the vision and passion Tom brings to the company, and have full confidence he is uniquely qualified to lead Macaran moving forward,” VanAlstine commented.

As CEO, VanAlstine will retain his corporate leadership role and remain Chairman of the Board of Directors.

About Macaran Printed Products
Macaran Printed Products is a third-generation, employee-owned supplier of high-quality label and packaging solutions for the spirits, craft beer, non-alcoholic beverage, household products, health, beauty and medical markets. Headquartered in Cohoes, NY, the company provides a “cradle to grave” product development system, and the latest in label printing and converting technology to ensure your brand image is delivered to the market just as you intended. As the “custodians of your brand” we take the time to understand your vision, ensuring consistency and reliability across every project, every time! Our offerings include pressure sensitive labels, extended content labels, peel & seal labels and promotional labels.

www.macaran.com

Franklin, TN – Resource Label Group, LLC (“Resource Label”), a full-service provider of pressure sensitive label, shrink sleeve and RFID/NFC technology for the packaging industry, announced it has acquired Everett, MA-based QSX Labels expanding its regional strength in New England and leading position in the label and packaging industry. QSX Labels represents the twenty-third acquisition for Resource Label.

QSX Labels was founded in 1957, as New England Industrial Supply. The company expanded to offer pressure sensitive labels as The Quik Stick Label Company.  As they continued to grow and modernize, they became QSX Labels and have increased their current offerings to include digital, flexographic, and screen-printed custom labels, including state-of-the-art finishing capabilities. In addition, QSX Labels offers durable labels such as graphic overlays, domed labels, and nameplates.  

Robert Karess, Owner of QSX Labels, stated “We are excited to be a part of the Resource Label Group family. Their focus on delivering a strong network of capabilities and services for customers has established them as an industry leader and the right partner for QSX.”

Mike Apperson, President and CEO of Resource Label, added, “The team at QSX Labels has built an impressive business and will add significant expertise in New England. Their focus on service and exceeding the needs of customers make them a welcome member of the Resource Label Group family.”

About Resource Label Group
Resource Label Group, LLC is a leading pressure sensitive label, shrink sleeve and RFID/NFC manufacturer with diverse product offerings for the food, beverage, chemical, household products, personal care, nutraceutical, pharmaceutical, medical device, and technology industries. With twenty-two manufacturing locations across the U.S. and Canada, Resource Label Group provides national leadership and scale to deliver capabilities, technologies, systems, and creative solutions that customers require. Headquartered in Franklin, TN, Resource Label Group employs over 1600 associates in the U.S. and Canada. Resource Label Group is a portfolio company of Ares Management Corporation. 

For additional information, visit www.resourcelabel.com

Three Transactions More than Double Size of Company Since Acquisition in August 2021                               

Dallas, TX – Sole Source Capital LLC, an industrial-focused private equity firm, announced today that its portfolio company, I.D. Images (“IDI”), a premier provider of product identification solutions, has made three significant acquisitions over the past five months. IDI’s acquisitions of Digital Printing Concepts, Multi-Action Communications, and Valley Forge Tape & Label Company have more than doubled the size of the company and extended its reach to several new markets across the U.S. and Canada since it became a Sole Source Capital portfolio company in August 2021. Terms of the transactions were not disclosed.

IDI manufactures high-quality durable and graphic intensive labels that address a broad range of product identification needs for a variety of end markets. Digital Printing Concepts, founded in 2003 and based in East Providence, RI, is a manufacturer of custom durable variable data labels that are utilized in warehouse logistics. Headquartered in Quebec, Canada, Multi-Action Communications is a manufacturer of logistics, grocery, track-and-trace, and prime labels to customers throughout Canada and the United States. The company was founded in 1993 and operates out of three manufacturing facilities across Canada. Based in Exton, PA and founded in 1962, Valley Forge Tape & Label Company is a longstanding, full-service manufacturer of custom printed self-adhesive labels for the Food and Beverage, Healthcare, and Consumer Products industries.

IDI now has 14 manufacturing and distribution locations across the U.S. and Canada, including its headquarters in Brunswick, OH. The combined businesses will yield significant technological and operational synergies as well as deliver enhanced cross-selling opportunities to a broader set of clients. Digital Printing Concepts will increase IDI’s custom track-and-trace label product mix, Multi-Action will further increase IDI’s food and beverage customer base and add three Canadian facilities, and Valley Forge will further enhance IDI’s custom-printed pressure sensitive label capabilities.

“Sole Source Capital and IDI are excited to partner with Digital Printing Concepts, Multi-Action Communications and Valley Forge Tape & Label,” said David Fredston, Founder and CEO of Sole Source Capital. “All three companies have a strong heritage within the labels industry, and we are pleased with the growth we’ve achieved in a few short months.”

“We believe that Sole Source Capital’s M&A and operating expertise, alongside IDI’s skilled operators will propel Digital Printing Concepts, Multi-Action Communications and Valley Forge to new heights,” said Scott Sussman, Partner and CIO of Sole Source Capital. “Sole Source Capital is excited to continue seeking out new partnerships in the labels space as we scale the IDI platform.”

“We are honored to continue the outstanding service, value, quality and expertise of Digital Printing Concepts, Multi-Action Communications and Valley Forge Tape & Label, and share the same high level of commitment to our now combined employees, customers and vendors,” added Jeff Fielkow, CEO of I.D. Images. “We are able to serve our customers out of 14 production locations and can offer a broader range of decorative, industrial, and grocery labeling solutions, which will add substantial value to our combined customer base.”

About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy and build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

About I.D. Images
I.D. Images, a leading manufacturer of converted label products, specializes in providing label solutions from supply chain management to brand protection. The company serves a variety of end markets including Transportation and Logistics, Food and Beverage, Consumer Durables and Healthcare and has facilities in Ohio, Massachusetts, Oregon, California, Arkansas, and Tennessee. For more information, please visit www.idimages.com.

About Multi-Action Communications
Multi-Action Communications is a manufacturer of labels made for the grocery, logistics, and industrial end markets. The Company was established in 1993 and operates out of three facilities in Quebec City, Vancouver, and Toronto. For more information, please visit www.multiaction.ca.

About Digital Printing Concepts
Digital Printing Concepts manufactures durable barcode labels made to withstand harsh environments. With over 25 years of experience in the barcode industry, the Company provides unique solutions for difficult labeling needs in both business and industrial applications. The Company was founded in 2003 and is headquartered in East Providence, RI. For more information, please visit www.dpcbarcode.com.

About Valley Forge Tape & Label Company
Founded in 1962 and headquartered in Exton, PA, Valley Forge Tape & Label is a provider of label solutions for the Food & Beverage, Healthcare, Consumer and Distribution end markets. They are a full service, electronic-prepress, custom-design label manufacturer. For more information, please visit www.vftl.com.

Domino continues to grow its digital printing business with the addition of Ralph Sanchez, as Regional Service Manager for Domino North America.  He joins the company with over 25 years’ experience in management positions, with a focus on senior level operations leadership and customer engagement roles.

Ralph knows success.  

Ralph has built a career optimizing processes and managing teams to better support customers.  He spent 32 years with Xerox in positions that included Operations Manager – Technical Escalations, Program Manager – Strategy & Optimization, Field Manager – Technical Services, and Field Service Engineer.  In addition, Ralph was also a Corporate Lean Six Sigma Black Belt – a subject matter expert in process optimization, leading multiple enterprise-wide projects to successful completion in shorter than expected cycle times.

After more than three decades with Xerox, Ralph joined AGFA Graphics in 2018 as Western Region Service Manager.  In that role, he led a customer-facing organization that supported customers and service requests. His responsibilities also included cultivating the technical and career growth of field service engineers and developing and administering performance reviews of the team; translating customer requirements into supplier specifications with responsibility for implementation, inspection, and evaluation; providing direct support to the sales organization; delivering corporate training initiatives ensuring compliance, and P&L responsibility.

Joining Domino.

Why is now is the perfect time for Ralph to join Domino?  With record sales in each of the past five years, the Domino North America Digital Printing business has continued to grow its install base significantly with digital presses and printers being added by converters from coast to coast.  In parallel, the Service & Support team has grown by leaps and bounds.  Less than four years ago, Service Manager Tom Grencik joined Domino to lead a team of field service engineers, and present day that team has multiplied fivefold.  With the outstanding work that Tom and the field service team have done, ‘strength in numbers’ continue with the addition of Ralph.  Tom will focus on the eastern region, and Ralph will oversee the western region.

On joining Domino, Ralph says, “I jumped at the opportunity to join a company that is growing and is committed to continuing to build a world-class service organization.”   

Mark Meyer, Technical Manager of Domino Digital Printing North America says, “It’s easy to see why we are very excited to have Ralph on our team.  He brings tremendous perspective, experience, and success and he will continue to thrive at Domino. Ralph will build on what has already been started, focusing on the provision of exceptional service to our customers and our field service engineers. With the outstanding foundation that Tom Grencik and our field service team have established, coupled with our tremendous growth, now is the perfect time for Ralph to join Domino.” 

Ralph has a Bachelor of Science in Business Administration, Management and Operations from the University of Southern California.  He lives in Los Angeles, CA with his wife Melinda Jo, son Luke, and daughter Sophia Jo.  

Domino is a leading manufacturer and distributor of digital printing and product identification solutions.  Celebrating its 44th year in business, Domino is a global organization with world headquarters in the UK, and North America headquarters in Gurnee, IL.  Domino has 25 subsidiaries, representation in over 120 countries, and over 2,900 employees worldwide. 

For more information on Domino, please visit dominodigitalprinting.com  

Elk Grove Village, IL — SCREEN Americas announces that its customer, Data-Mail Inc., of Newington, Connecticut, printed a total of one billion linear feet solely on SCREEN’s technology in the first ten months of 2021. The milestone is one of the first achieved in North America by a single printer.

Data-Mail, a full-service direct mail operation and one of the largest employers in the Hartford, Connecticut, metropolitan area with over 1,000 employees, serves the financial services, retail, publishing, healthcare, insurance and telecommunications industries. A SCREEN customer since 2016, it operates sixteen SCREEN engines including ones from the Truepress Jet520EX, Truepress Jet520NX and Truepress Jet520HD series. The assortment allows Data-Mail to provide its customers with variable data solutions in color or monochrome imaging using simplex or duplex configurations and at speeds of up to 500 feet per minute.

Peter Barzach, vice president of operations for Data-Mail, points to the growing demand for variable printing, improved color and efficiencies in recent years among the company’s direct mail marketer customers as the reason for his SCREEN fleet of inkjet printers. “As a company we’ve effectively transitioned from toner to inkjet-based technology,” said Barzach. “Our customers have come to expect the capability that the SCREEN technology has to offer, such as being able to predictably and reliably print on a wide variety of papers, quickly handle frequent set-ups and accurately reproduce brand and marketing colors.”

Founded in 1971, the company operates its Personalization department three shifts per day five days a week, but often has the SCREEN Truepress Jet520 series presses running continuously seven days a week. Between its headquarters in Newington and its satellite production plant in Windsor, Conn., Data-Mail occupies 500,000 square feet of manufacturing space and produces 1.5 billion pieces of mail per year.

About SCREEN Americas
SCREEN Americas, a SCREEN Graphic Solutions group company established in 1967, is a leading provider of digital inkjet technology serving the commercial, publishing, direct mail, transactional, packaging, folding carton and label industries. In 2021, SCREEN Americas relocated its headquarters to Elk Grove Village, Illinois, with an upgrade that included a 14,000-plus square foot Inkjet Innovation Center.

www.screenamericas.com

North Kingstown, RI — For the second year in a row, Toray Plastics (America), Inc.’s  employees had to forgo their annual holiday fundraising breakfast owing to COVID-19 restrictions, but that didn’t dampen their spirit or diminish their desire to give generously and help others. The company’s Cares Campaign mobilized the workforce and enabled Toray to fulfill its holiday season commitment to the Rhode Island community for the 19th consecutive year. Toray vendors also pitched in to help make the campaign a success. The U.S. Marine Corps Toys for Tots program and the Navy-Marine Corps Relief Society were the beneficiaries. The toys were distributed to local families. The monies will help the Navy-Marine Corps Relief Society provide financial, educational, and other assistance to members of the Naval and Marine Services of the United States, eligible family members, and survivors when they are in need.

“We learned during the very challenging 2020 holiday season that Toray employees would not be daunted by COVID-19, and 2021 was no different,” says Lisa A. Ahart, Vice President of U.S. Corporate Human Resources and Environment Health and Safety. “We are very grateful to them and our vendors for their enthusiastic support.”

About Toray Plastics (America), Inc.
Toray Plastics (America), Inc., is a leading manufacturer of polyester, polypropylene, and metallized films, and polyolefin, polypropylene, and polyethylene foams. The company is committed to environmental, social, and corporate governance and aims to contribute to society through the creation of new value with innovative ideas, technologies, and products that help address global issues. R&D is focused on the development of materials that are fossil fuel-free, compostable, biodegradable, and/or recyclable. The company’s sustainability initiative, launched in 2004, includes the operating of two solar farms and two cogeneration systems, energy and water conservation, recycling, and zero landfill.

Toray Plastics (America) is a subsidiary of the Toray Group, which believes that materials can change lives and provide real solutions to the challenges the world faces. The Toray Group is the world leader in synthetic fibers and textiles, carbon fibers, plastics, chemicals, pharmaceuticals, and high-performance films and has annual sales exceeding US$21 billion.

For more information about Toray Plastics (America)’s products, contact Brenda Ockun, Brand Manager, at brenda.ockun.w9@mail.toray or 315-916-3272. Toray Plastics (America), Inc., headquarters is located at 50 Belver Avenue, North Kingstown, RI 02852-7500; telephone 401-294-4511, fax 401-294-3410. Visit the Toray Plastics (America), Inc., website at www.toraytpa.com.