TC Transcontinental Packaging, the Packaging Sector of TC Transcontinental (TSX: TCL.A TCL.B), announces an investment of $60M US (approximately $80M CAD) toward the development of cutting-edge mono-material recyclable flexible plastic packaging solutions, providing high-performance polyethylene films with more heat resistance. In addition to a new innovative film line that will produce biaxially oriented polyethylene (BOPE), a first in North America, the investment includes ancillary equipment and a 120,000 sq. ft building expansion in TC Transcontinental Packaging’s Spartanburg, South Carolina facility.
“This new offering will be a game changer in TC Transcontinental's recyclability journey, demonstrating our commitment to distinguish ourselves and gain market share with innovative sustainable solutions for our customers,” said Thomas Morin, President and CEO of TC Transcontinental. “Our offering aligns with our customers’ desire to accelerate speed to market with recyclable products that also protect and preserve their contents throughout their lifecycle, in addition to creating a more circular economy for plastic.”
This investment is well underway and is expected to be completed in fiscal year 2024. TC Transcontinental Packaging has selected Brückner, a global leader in the field of film production and technology with an outstanding reputation for high quality and innovation, to supply equipment for this BOPE film line.