Press Releases
CAROLINA PRECISION PLASTICS JOINS FORCES WITH FRENCH MOLDER/DESIGNER IPACK
Carolina Precision Plastics, LLC ("CPP") and Innovative Packaging ("IPack") have established an alliance that will greatly expand the geographic and technical capabilities of both companies. Through this partnership, the companies now offer manufacturing capacity in both the United States and Europe.
Carolina Precision Plastics is an owner-operated injection molding company located in Asheboro, North Carolina that provides its customers a full range of manufacturing services, from design and prototyping through tool construction and full production launch. In addition to injection molding, CPP also employs high-speed automation and various assembly and decorating operations as it serves a diverse customer base. Historically strong in high-volume consumer packaging markets such as lip balms and pens/markers, CPP has recently attracted several new customers in the cosmetics market, including a central role in the design, launch and production of the Revlon's redesigned Super Lustrous lipstick case.
IPACK was established in 2000 by longtime technical executive Daniel de Rosa and is located in Acquigny, France (45 minutes west of Paris). IPACK has quickly established itself as a highly innovative and technically proficient company in the field of packaging. In addition to injection molding and complete assembly capabilities, IPACK is known for its ability to integrate different materials (plastic, wood, and aluminum) into its product components. Its technical expertise and experience in the fields of custom actuators/fixed spray technology and the combining of packaging ingenuity and modern technology have enabled IPACK to create unique products, whether a self-orienting, magnetized over-cap or a fragrance package using a miniature "light source". In its five years of its existence, IPACK has created patented technology as well as facilitated some of its clientele's recognition as recipients of coveted international packaging awards.
The alliance between these two cosmetics suppliers is a natural. "IPack's creativity and reputation for design complements our manufacturing capabilities very well," said Carolina Precision Plastics' President, Brian Tauber. "Working closely with IPack allows us to offer our customers global manufacturing and a wealth of innovation to attack the cutting edge of new product creation. We are very excited to present a broader range of products that we can manage on a world-wide basis for them."
IPack's design capabilities combined with its complex molding and assembly operations have won it accolades in the cosmetics market. "Aligning ourselves with Carolina Precision Plastics helps us gain access to the U.S. market while obtaining manufacturing capabilities that are among the best in U.S.," stated Daniel de Rosa, Founder and President of IPack. "We have many customers who seek a company that can provide a full range of services with the innovation required to thrive in today's markets. IPack and CPP can provide that solution," he added.
The two companies will begin collaboration immediately on designing new products as well as modifying existing ones. They will also market current products and product lines to each other's customers, either manufacturing in the U.S., in Europe or in both markets. They also see value in maintaining both engineering and production across both sides of the Atlantic. Customers are increasingly interested in manufacturing products closer to their retail destination, requiring facilities in Europe and the U.S. Similarly, CPP and IPack can now offer seamless transition of production if customers desire to engineer, prototype and launch a product near their facilities, yet manufacture on a different continent.
CPP does not seem to be resting with this move, though. "This alliance represents only one component of our strategy to expand our operations globally and domestically. We are also in discussions to develop similar partnerships with manufacturers in different countries in Asia," Tauber said. "Domestically, we are actively seeking acquisitions that fit strategically with our capabilities and direction."
Tauber claims that the value proposition for their customers is tremendous in that CPP and its partners can manage world-wide manufacturing for logistical and/or cost considerations, yet maintain the control and efficiency during the critical design, engineering and launch phases of a product. "Too often," he states, "programs fail or the cost is excessive because a customer attempts to multi-source it or manage it from a distance. With an alliance with IPack, our ability to serve our customers increases dramatically."
CAROLINA PRECISION PLASTICS ACQUIRES ASSETS OF COSMETICS MOLDER AUGROS, INC.
Carolina Precision Plastics, LLC ("CPP") of Asheboro, NC acquired the assets of cosmetics injection molder Augros, Inc., located in Ronkonkoma, NY on July 1. Augros, Inc. is the U.S. subsidiary of Augros Cosmetics Packaging, S.A. of France and has revenues of approximately $10 million. The combined companies' sales will be approximately $30 million.
CPP molds, assembles and decorates for various consumer products markets, including cosmetics, lip balms, pens/markers, automotive and industrial. Its recent gains in the cosmetics industry, led by its involvement in the redesigned Revlon Super Lustrous lipstick case, represents the fastest growing portion of its business. Brian Tauber, President and CEO of CPP states, "The acquisition of Augros fits perfectly into our strategic growth plans. Their success and reputation in the prestige and "masstige" segments will help further expand our reach in the cosmetics market and allow us to offer our customers increased capabilities while maintaining world-class quality levels at the most competitive prices." He adds, "Our complete dedication to customer service continues to drive our culture, particularly as our customer's confront increasingly competitive markets."
CPP plans on operating out of the Ronkonkoma facility, although it will begin transferring select business to its North Carolina plant to better serve customers located in the mid-Atlantic and southeast regions. Ron Skinner, COO of CPP, indicates that "We are also assessing other acquisitions and geographic expansions. We see tremendous opportunity and are aggressively pursuing those activities that make sense."
The acquisition of Augros represents one of several fronts on which CPP is working to better serve its customers. In addition to expansion in the U.S., CPP plans to have a joint venture operating in China by the end of the year. "We recognize the need to offer our customers the option of manufacturing in a low cost country," states Tauber. "Our partner is a well-established, high-quality molder that, when combined with our capabilities, should provide a tremendous source of overseas production."
These activities come on the heels of an alliance established in 2005 with French molder and designer I-Pack, a company focused on innovation in the fragrance and pump spray markets.
