Throughout the United States, plastics remain popular. One study found that Americans use nearly 2.5 million plastic bottles each hour. One notable company in this industry is Pretium Packaging. It’s no wonder that Pretium Packaging has now acquired their fifth company in the past four years. With that in mind, here is more news about Pretium Packaging’s newest acquisition.
The Acquisition of Cox Containers
Cox Containers specialize in manufacturing polyethylene terephthalate or PET containers for a wide range of businesses. In fact, Cox Containers manufacturers packaging for dairy, beverage, and industrial markets throughout the United States. Among the many blow molding plastic bottle companies, Cox Containers is a great acquisition for Pretium Packaging.
Blow molding is often preferred due to its fast production cycle. This allows companies to ensure that they’re able to receive large amounts of products quickly. In addition, many companies utilize blow molding as it allows them to produce a wide variety of container types, styles, and sizes.
The Bright Future for Pretium Packaging
This now means that Cox Containers will be Pretium’s 17th location. Statistics show that plastics are the third largest industry for manufacturing throughout the United States. Therefore, this means that Pretium continues to expand in an already popular industry. The acquisition of Cox Containers now means that Pretium will be able to utilize 13 additional acres of workable space.
Pretium Packaging currently houses over 300 separate production lines. This company has continued to provide a wide variety of packaging solutions. Industries served by Pretium Packaging include food, beverage, health, and beauty markets. A recent report by Plastics News found that Pretium Packaging recently reported $310 million in terms of annual sales. Time will tell rather this acquisition continues to increases profits for Pretium Packaging.
In closing, Pretium Packaging has recently acquired Cox Containers. This news shows that plastic water bottle manufacturers continue to remain popular within the United States. Many plastic water bottle manufacturers continue to utilize blow molding machines. While you might have heard recent negative news about plastics, this industry is still certainly thriving. In fact, statistics show that the United States plastic industry currently employs nearly one million workers. This new acquisition continues to show that Pretium Packaging is aggressively expanding their investment portfolios.