Date: 4 January 2012
Sealed Air has announced the purchase of the Costa Rican operation of Advanced Thermoforming Enterprise (ATE), a privately-owned medical thermoforming company based in Oceanside, CA. The business will be integrated into Sealed Air’s existing Medical Applications business unit.
ATE’s Costa Rican operation was started in 2005. The company is dedicated to custom design thermoformed parts for the medical, pharma and bio-pharma markets. It has Class 8 (100,000) clean room facilities and the site is ISO 9001 certified for medical device packaging.
Teresa Preskar, VP and General Manager, Sealed Air Medical Applications said “We are very excited to expand our operations to Costa Rica. ATE enjoys excellent business relationships in the country and this site will become a key element of Sealed Air Medical’s strategic expansion into Central and Latin America. The Medical Sector in Costa Rica has experienced significant growth and a large number of our existing medical device and pharmaceutical customers have already set up manufacturing facilities there. With the purchase of ATE Costa Rica, we will provide local access to products and services with the continued benefits of the Sealed Air Nelipak® design and technical expertise already in place in the US and Europe.”
Financial terms of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.
Medical Market in Costa Rica
The number of multinational medical device and pharmaceutical companies with operations in Costa Rica has grown extensively in the last decade, increasing from 8 companies in 2000 to 38 in 2010 and the FDA has also established an office there. In 2010, medical industry exports were $1.2bn and represented 24% of Costa Rica’s total exports. The Costa Rican government forecasts continued annual growth of more than 13% per year through 2015.
Sealed Air Medical Applications provides rigid and flexible packaging systems for the medical device and pharmaceutical industries under the Nelipak® and Nexcel® brands. These include high barrier hypoallergenic films for ostomy bags, non-pvc materials for IV solutions and custom designed trays and die-cut lids for medical devices. In addition the Nelipak® Total Validation service provides full package testing to ISO 11607 parts 1 and 2. With ISO 13485 accredited manufacturing sites, sales and technical support throughout the world, Sealed Air Medical is a global player, located close by its customers. To learn more, visit www.sealedairmedical.com.
Sealed Air Corporation is the new global leader in food safety and security, facility hygiene and product protection. With widely recognized and inventive brands such as Bubble Wrap® brand cushioning, Cryovac® brand food packaging solutions and Diversey® brand cleaning and hygiene solutions, Sealed Air offers efficient and sustainable solutions that create business value for customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations. On a pro forma basis, Sealed Air generated revenue of $7.6 billion in 2010 and has approximately 26,000 employees who serve customers in 175 countries. To learn more, visit www.sealedair.com.