Signifies focus on core business and recent merger announcement
YOUNGSTOWN, Ohio, Aug. 7, 2019 /PRNewswire/ -- Exal Corporation, the largest producer of impact extruded aluminum containers in the world, has agreed to sell Exal Packaging SA (Exal's filling business), in Garin, Argentina to the Queruclor Group, an Argentine manufacturer and supplier of personal and home care products.
The sale which was completed today, allows Exal to focus resources on its existing can making facilities in North and South America and also on its recent merger announcement with the Ardagh Group to form the new Trivium Packaging joint venture. Exal's parent, the Ontario Teachers' Pension Plan will control a 57% stake in Trivium. Completion of the Trivium transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2019.
"In light of our recent merger announcement, the sale of Exal Packaging SA, Exal's only filling business, makes perfect sense as it will allow Trivium to focus on its core metal packaging business. We are pleased to sell the business to Queruclor, a company with a solid reputation in Argentina." – Michael Mapes, CEO, Exal Corporation
"A number of years ago, we selected Exal Packaging S.A. as our contract filler for our Personal Care division due to their years of experience in filling personal care products for multinational and local brands, having filled more than 2.5 billion aerosols. With the acquisition of Exal Packaging SA, we will continue operations, providing filling and formulation services, and also maintaining the high manufacturing and quality standards that Exal Packaging has been known for over the years.
This also provides an opportunity to continue our business relationship with Exal as a can supplier, expanding our market in South America and providing our current and future customers premium filling services, for them to offer the best products in the local and international markets." – Walter Lopez, Queruclor President
ABOUT EXAL CORP.
As the world's largest manufacturer of impact extruded aluminum containers, Exal Corporation's premium aluminum packaging is building brands and driving sales across markets including beverage, beauty and personal care, home care, pharmaceutical, and food. Exal has a decades-long history of breakthrough innovation in sustainable aluminum packaging.
From our aluminum beverage bottles to our full body shaped aerosol cans, with impressive graphics and inks, Exal has been a driving force behind some of the industry's biggest successes. Our people are experts in packaging design, producing unparalleled products that stand out on the shelf and deliver distinctive consumption experiences. Visit www.exal.com for more information.
Queruclor is an Argentine company that for 25 years has been working with the mission of giving the middle-class high- quality products at a fair price. This philosophy allowed us in recent years to become leaders in the local market of products for cleaning and care of the home with brands that are already part of people's lives.