Australian owned packaging company, Detmold Group has reached agreement with United States based Novolex to purchase the Heshan Innopak assets and business. The transaction is expected to be completed by the end of August.
Innopak is a subsidiary of the Burrows Paper Corporation which was acquired by Novolex in December 2016. Innopak manufactures a range of food wraps, paper takeaway, carry and industrial bags and food cartons in its facility in Heshan, Guangdong, China.
Detmold Group has been successfully operating in China for over 20 years, employing over 800 people and operating a substantial manufacturing facility in the Heshan, China area. Detmold Group will take over the Innopak operations and continue to manufacture at both sites ensuring all customers receive a seamless transition. All Innopak staff will be offered employment by Detmold on comparable terms, including local Innopak management.
“We are pleased to announce this acquisition, which is an important step in our continued growth in the China market. Detmold Group’s global customers will also benefit from the additional capacity and capability that this manufacturing expansion brings to our organization,” said Detmold Group Chief Executive Officer, Alf Ianniello.
“We hope that all of Innopak’s 120 staff take up our offer to continue their careers with the Detmold Group.”