Coveris announces its intensions to exit the resin resale operation which currently operates within the company’s European food and consumer business unit. The company will continue to honor all existing contracts while operations of the resin trade taper off through the end of 2014.
Ending the non-core resin trade is consistent with the strategy of focusing on high valued-added products and innovative solutions.
“The strategic exit of the European resin trading business is in full alignment with our strategy and CBS – the Coveris Business System,” says Gary Masse, CEO Coveris. “Through commercial excellence we leverage the very best of the combined companies that make up Coveris to drive innovative solutions for our business partners and growth.”
There are four cornerstones to the Coveris Business System: Operational Excellence, Commercial Excellence, Talent & Leadership and Acquisition Integration.
“We have made tremendous strides in the last year under the Coveris banner and exiting the resin trade allows the EU EU F&C business to marshal more resources to our core high value-added products and customers," says Stefan Gutheil, president of European food and consumer.