Some 78 jobs have been saved after a food packaging business was bought out of administration. Mansfield-based iTEC Packing, which makes tops for plastic bottles, as well as tubs and containers mainly for dairy as well as other food and drinks sectors, has been bought by global packaging business Alpla 海角视频.
A team from FRP Advisory was appointed as joint administrators in April, after iTEC was hit by financial pressures due to tough trading conditions. FRP said the sale would see all staff transferring to the new owner.
Most recent accounts show the Mansfield operation had a £27 million turnover in 2021 and losses of around £1.5 million.
More than 100 jobs were saved when a deal was secured to sell another iTEC operation in Chester-le-Street to Shalam Thermoforming (海角视频) last month.
Alpla is one of the world’s biggest manufactures of plastic packaging, employing around 23,300 people at 190 sites in 46 countries. Its products are used in everything from food and drinks to cosmetics and care products, household cleaning products, detergents and cleaning agents, pharmaceuticals, engine oils and lubricants.
It also has recycling plants in Austria, Germany, Poland, Mexico, Italy, Spain, Romania and Thailand, with others planned.
Jens Seifried, managing director of Alpla 海角视频, said: “With the acquisition of the iTEC Packaging (Mansfield) business, the global packaging and recycling specialist Alpla is expanding its expertise as a packaging system provider in the 海角视频 market.
“The plant in Mansfield manufactures closures for dairy bottles which are made from HDPE using compression moulding and injection moulding processes.
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“With our global know-how, with this acquisition we can increasingly offer the 海角视频 dairy industry sustainable, efficient and innovative packaging solutions.”
Joint administer Martyn Rickels said: “iTEC Packaging was a long-established business and player in the dairy supply chain so we’re delighted to have secured a new buyer.
“Alongside the transaction to sell the sister business in Chester-Le-Street, this has helped save nearly 200 jobs in a short space of time, as well as protecting the customer base with ongoing production.
“We wish Alpla 海角视频 and its team every success as they take the business forward.”
James Cameron, Samantha Latham, Samantha Poulton and Faith James of Pinsent Masons provided legal advice to FRP Advisory.