Novolex Closes on Acquisition of Flexo Converters USA, Inc.

Amtech, LLC, an industrial software solutions provider to the packaging industry, has completed its acquisition of Label Traxx and its software suite for the label printing and flexible packaging segments. According to Amtech, the combination further solidifies Amtech’s position as a sought-after industrial software platform to the packaging industry. The combined company will provide software solutions to more than 750 customers and 1,200 manufacturing sites spanning packaging end markets across the globe, including in North America, Latin America and Europe. Label Traxx provides a comprehensive software suite with end-to-end capabilities including ERP, MES, MIS, CRM, and other solutions that are complementary to Amtech. The company serves a diverse, global customer base spanning more than 500 manufacturing sites that supply a wide variety of end markets.

Constantia Flexibles has signed an agreement to acquire approximately 57% of the shares of the packaging producer Aluflexpack. In parallel, Constantia Flexibles will launch an all-cash public tender offer for all publicly held registered shares of Aluflexpack. The offer is subject to certain terms and conditions, including the outcome of the regulatory process. The material terms and conditions of the offer are described in the pre-announcement of the offer which has been published today and is available at afp-tender-offer.com. The company is a leading player in the European packaging industry, specializing in foil and film packaging for the Consumer and Pharma markets. Operating out of 14 locations across Europe with over 1,500 employees, the company will perfectly complement Constantia Flexibles’ packaging solutions portfolio. This acquisition is a sizable step in Constantia Flexibles’ foil packaging presence across market segments. Aluflexpack has delivered a very strong historical financial performance and continues to do so. It is highly complementary to Constantia Flexibles’ geographical footprint, e.g., in Turkey and Poland as well as expanding to countries of Southeast Europe. The acquisition gives access to an extended technology portfolio.

Notable items in the third quarter include: *Record net sales of $4.8 billion increased 14% compared to the prior year quarter *Net income of $250 million increased 40% compared to $179 million in the prior year quarter *Record third quarter North American per day box shipments increased 9% compared to the prior year quarter *Successfully implementing published price increases across all major paper grades; pricing realization outpaced inflation in the quarter *Generated net cash provided by operating activities of $751 million and Adjusted Free Cash Flow of $554 million compared to $740 million and $508 million, respectively, in the prior year quarter *Reduced total debt by $270 million