Germany-based Schütz has signed an agreement to acquire Envases y Laminados (ELSA) for an undisclosed sum
ELSA supplies rigid industrial packaging solutions to the customers in Mexico.
Under licence agreements, ELSA has been working with Schütz for the manufacturing and sale of Schütz IBCs and plastic drums since last 20 years.
ELSA’s product portfolio includes IBCs, drums, buckets and bottles.
The company produces various drum products such as fiber drums, polyethylene drums, steel drums.
ELSA’s buckets can be used for packing non-dangerous liquids of the chemical, food and pharmaceutical industries, while IBCs are suitable for packaging chemical, pharmaceutical and food industry products.
Produced by using high-density and high molecular weight polyethylene (HDPE), the firm’s bottles can be used for packing chemical, petrochemical and food products.
Subject to the approval of Mexican antitrust commission COFECE, the deal is expected to complete in early 2018.
Schütz group CEO Roland Strassburger said: “ELSA is well established and Mexico offers interesting growth perspectives for our industry as our customers perceive Mexico to be an integral part of the NAFTA region.”
ELSA owner and sole manager Carlos Mata said: “I am extremely pleased to pass my company on to Schütz, a family-owned business like ELSA, which stands for high-quality products and services world-wide, a long-term business approach and solid financials enabling a strong further development of ELSA in the years to come.”
Schütz operates four business divisions, including packaging systems, industrial services, composites / windpower and energy systems.
Image: one of the six ELSA factories in Mexico. Photo: courtesy of SCHÜTZ GmbH & Co. KGaA.