The investment will be used to install a new six-metre multi-layer co-extrusion line at one of Innovia’s continental European facilities to produce Ecofloat shrink films
CCL Industries is set to invest $35m for expansion of Innovia Films unit capacity. (Credit: Rupert Kittinger-Sereinig from Pixabay)
CCL Industries has announced an investment of around $35m to expand the capacity of its Innovia Films unit.
The investment will be used to install a new six-metre multi-layer co-extrusion line at one of Innovia’s continental European facilities to manufacture Ecofloat shrink films.
The hybrid polyolefin film enables to easily separate labels from PET bottles and other types of plastic containers in the recycling process to allow bottle-to-bottle circularity, thereby helping global food and beverage brand owners to achieve their sustainable goals.
Innovia’s new capacity is expected to come online in early 2022
The new capacity is expected to come online in early 2022, as most of the capital will be used in 2021.
Innovia and CCL food and beverage business president Guenther Birkner said: “Many consumers and brand owners value the convenience and reclose capability of plastic bottles and containers but also recognise these can no longer clutter the world’s waste streams and must become circular in use.
“Easy removability of labels to avoid contaminating post-consumer resins is therefore mission-critical and our exciting new, proprietary Ecofloat development brings a unique solution to this industry dilemma.”
CCL president and CEO Geoffrey Martin said: “We are very pleased with the much improved financial performance at Innovia. This important investment reaffirms our commitment to sustainability leadership in the label industry.”
In August this year, CCL Industries agreed to acquire Graphic West International (GWI), a Danish specialised digital printer of short-run folding cartons, in a deal worth C$36m ($26.8m).
CCL Industries offers speciality label, security and packaging solutions for global corporations, government institutions, small businesses and consumers.