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Slide #21. Berry Plastics — Controlling Interest of Qingdao P&B Co., Ltd
Berry Plastics (NYSE:BERY)
Controlling Interest of Qingdao P&B Co., Ltd
Today Berry Plastics Group, Inc. (NYSE:BERY) announced that its acquisition of the controlling interest of Qingdao P&B Co., Ltd (P&B) has been approved by the competent approval authority in China. Pending registration with the local company registry, which is expected to be completed by February 2014, Berry Plastics will own 75 percent of P&B, with a minority ownership position retained by Peter Song, who is the original founder of P&B and the current General Manager of the business. Song will remain in the same position going forward.
Berry Global Group is a supplier of a range of non-woven products used within consumer and industrial end markets. Co.'s segments are: Consumer Packaging International, which includes closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, polythene films, recycling, and technical components; Consumer Packaging North America, which includes containers and pails, closures and overcaps, and bottles and prescription vials; Engineered Materials, which includes stretch and shrink films, converter films, tape products, and food and consumer films; and Health, Hygiene and Specialties, which includes health products, hygiene products, and specialties products.
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Strong Buy (3.55 out of 4)