The realignment is intended to improve operational efficiency, enabling a better client focus across all closure applications, and optimising business processes
Aptar’s two renamed reporting segments will be Aptar Closures and Aptar Beauty. (Credit: AptarGroup, Inc.)
US-based material science solutions provider Aptar has unveiled its plans to realign two of its business reporting segments effective 1 January 2023.
Under the plans, Aptar Closures and Aptar Beauty reporting segments will be renamed. However, the firm’s pharma segment will remain unchanged.
The restructuring is intended to improve operational efficiency, enabling a better client focus across all closure applications, and optimising business processes.
According to the firm, Aptar Closures will concentrate primarily on utilising the closures platform to increase the markets that Aptar serves with these technologies.
By consolidating its experience in closures product design, marketing, and production, Aptar will be able to better serve clients by combining its closures activities into one division.
Furthermore, the focus on segment-specific closures will assist to streamline operations and better utilise these skills, the material science firm added.
Additionally, the realignment will streamline Aptar Beauty and improve the company’s competitive position.
Aptar Beauty will create and offer spray and dispensing solutions to better serve the fragrance, cosmetics, skincare, and personal care markets. The segment will also provide food and beverage, home care, and clients who use spray or pump dispensing technologies, the US-based firm said.
Aptar president and CEO Stephan Tanda said: “We are taking a strategic step that will strengthen our competitive position by simplifying and focusing our organization.
“This change to our structure better aligns with our customers’ needs and allows us to leverage our expertise by technology with the goal of delivering the optimal combination of growth and profitability.”
Aptar will continue to own Aptar Pharma, Aptar Beauty and Aptar Closures as its three reporting segments.
The company will make the recast historical financials of the new segments public before reporting its first quarter 2023 results.
Last month, Aptar Pharma announced the completion of the first stage of its $180m injection system solutions expansion programme. The multi-site, global expansion project was intended to increase capacity across all product lines.