April 9, 2012
, a leading global specialty packaging manufacturer, today announced it has purchased the equity interests of the minority stakeholder in its Mexican subsidiary, Shorewood de
. As a result of the equity purchase, Shorewood de
is now a wholly owned subsidiary of
had been a joint venture with Corporativo Cartograf S.A. de C.V., established in 2008 to support Shorewood's key multinational customers who were seeking high-end packaging solutions in
. Based in the city and state of
, Shorewood de
's state-of-the-art, ISO-9002-certified facility is equipped with offset lithographic and rotogravure presses, as well as finishing equipment. Today the business manufactures packaging for customers in the beauty and personal care, confectionary, health care and tobacco market segments.
According to AGI-Shorewood president and CEO
, the move underscores AGI-Shorewood's commitment to the region. "One of our core strategies is to expand our business where our customers are growing, meeting their needs for value-added packaging in different parts of the world," he says. "Securing sole ownership of Shorewood de
not only demonstrates we're serious about growing our business in
, it gives us the room we need to expand Shorewood de
's capabilities and capacity over the next 15 months."
Prior to this transaction, Corporativo Cartograf owned the building occupied by Shorewood de
. As a result of the transaction, Shorewood de
will acquire the facility and Corporativo Cartograf will move its remaining operations out of the
facility over the next 15 months. Shorewood de
expects to hire almost 400 Corporativo Cartograf employees and will gain additional manufacturing space to expand its operations.
, which is comprised of AGI-Shorewood US and AGI-Shorewood International, is a specialized global packaging platform that makes innovative products for the world's premier consumer products companies. Key consumer-packaging segments it serves include entertainment and media, tobacco, beauty and personal care, cosmetics and fragrance, health care and pharmaceuticals, consumer electronics, golf, confectionary and specialty foods, beverages, and specialty gravure. AGI-Shorewood US and AGI-Shorewood International collectively employ nearly 4,000 people worldwide, operating 22 manufacturing facilities in
and eight creative services offices.
for more details about AGI-Shorewood and its products and services.
, AGI-Shorewood, 203.541.8168,
, Stoltz Marketing Group, 208.388.0766,