Schur Flexibles consolidates presence in Italy with new acquisition
Sidac s solvent recovery plant.
Schur Flexibles Group, a manufacturer of engineered packaging solutions based in Wiener Neudorf, Austria, has moved to further expand its network in Italy with the acquisition of Sidac SpA. No financial details about the transaction were disclosed.
Located in Forli, near Bologna, Sidac produces flexible packaging, mainly complex laminates supplied on reels, for the food, beverage, confectionery and animal feed segments.
Sidac’s portfolio is highly complementary to that of Schur Flexibles, as are the company’s sustainability ambitions, the companies said. Sidac has installed a high-performance facility for the recovery of the solvent used during its production processes and carefully monitors its emission levels into the environment, for one example.
April 6, 2021
Schur Flexibles Group has expanded its network on the Italian market with the acquisition of Sidac SpA, which operates a modern production plant in Forli, near Bologna.
With annual revenue of approximately €34 million ($40m) last year and a workforce of 120 employees, Sidac has been manufacturing flexible packaging since 1929, particularly in the food, beverage, confectionery and animal feed segments. The product portfolio primarily encompasses complex laminates supplied on reels and used in the ready-to-eat convenience food and pet food segment (stand-up pouches).
Michael Schernthaner, Schur Flexibles’ chief executive
Schur Flexibles was also attracted to Sidac’s facility for solvent recovery, which complements the company’s circular economy objectives. Austria’s Schur Flexibles produces flexible packaging at 22 facilities located across 11 European countries.
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The global food packaging market is projected to grow at a significant CAGR during the forecast period.
The key factors that drive the growth of the market include the increased demand for packaged food owing to the quickening pace of life and the changing lifestyles of people. Key features such as extended shelf life of food products, convenience in handling, and efficiency in the prevention of content contamination also drive the growth of the market over the forecast period. Further, the rise in the population and increased disposable incomes also influence people to spend on more premium and packaged food products, which in turn, will drive the growth of the global food packaging market over the forecast period.