Union Community Development Director Joseph Graves confirmed reports that Rexam Containers Silgan Holdings Inc. has purchased Rexam PLC thermoformed business, including the plant in Union.
According to Graves, there should be minimal impact on the Union plant.
“From what I have been told, the management staff has been retained,” he said. “As far as we know there will be little to no changes in the local facility.”
The announcement was made in early July, Graves said, but the actual acquisition won’t be official until after the third quarter and pending regulatory approval.
“This business is uniquely positioned for the growing demand in the ready-meals market through its low-cost technology which meets the rigorous requirements of the shelf-stable food market,” said Silgan CEO Tony Allott in a prepared statement. “The ability to provide our existing customers with product line extensions that offer convenient, on-the-go capabilities makes it an excellent fit within the Silgan suite of products.”
The Union plant is a major supplier of rigid plastic trays, bowls and lids to the food industry in North America.
Its customers include Dean Foods, Kraft, General Mills, Frito-Lay, Hormel, Beechnut, Heinz and Gerber.
Silgan is a plastic bottle and jar manufacturer that is headquartered in Chesterfield.
According to a Wall Street Journal report, Silgan purchased Rexam PLC for $250 million.