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Placon is expanding its production capacity and employee base with the acquisition of a former Sonoco packaging operation in Wilson, North Carolina.
Placon has reached an agreement to purchase substantially all operating equipment and hire over 80 employees at the 112,000 square foot location. The deal will help meet existing capacity needs in retail and medical markets and further expand Placon’s leadership role in thermoforming sustainable post-consumer recycled PET packaging.
Dan Gilbert, Chief Financial Officer of Placon stated, “The acquisition boosts Placon’s production capacity overnight to serve a rapidly growing demand for our unique, sustainable packaging solutions. In addition to expanding our national footprint into the southeast, Placon is thrilled to have such a talented pool of employees join our family. The welcome we have received by the community has been amazing.”
Placon is experiencing accelerated growth in all of its primary markets – consumer brands, food, and healthcare. The Wilson facility will immediately serve to better balance load the demands of these markets. Longer-term, this aligns with Placon’s business strategy to grow and serve food processor customers with product offerings such as laminated barrier solutions, OxyStar™ mono-recyclable material, and EcoStar® 100% PCR materials.
In addition to this expansion, Placon’s new cleanrooms in Elkhart, Indiana will be operational on November 1st to double its capacity in the medical market. Dan Mohs, Chairman and CEO said, “Placon’s strategic plan continues to deliver growth and we have chosen to lean into the supply challenges by making strategic investments in our future.”
Placon has manufacturing operations in Madison, WI; Springfield, MA; Plymouth, MN; and Elkhart, IN and is currently ranked 19 in Plastics News 2021 Thermoformers Ranking.
