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Germany-based Schütz acquires biggest Mexican manufacturer of industrial containers

Staff Writer |
Germany-based Schütz has signed a purchase agreement for 100 percent of the shares of Envases y Laminados (ELSA).

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Closing is expected to take place in early 2018, subject to the pending approval of the Mexican antitrust commission COFECE.

ELSA is the leading supplier of rigid industrial packaging in Mexico. The company has been co-operating with Schütz under licence agreements for the manufacturing and sale of Schütz IBCs and plastic drums for almost 20 years.

Roland Strassburger, CEO of the Schütz group, stated: "We are excited about this unique opportunity to be present in Mexico with a fully owned subsidiary. ELSA is well established and Mexico offers interesting growth perspectives for our industry as our customers perceive Mexico to be an integral part of the NAFTA region.

"In addition, we feel very much honored being entrusted by Carlos Mata with leading his company, which he has built up to be the market leader in Mexico over the last decades, into the future."

Carlos Mata, sole manager and owner of ELSA who is going to retire, declared: "I am extremely pleased to pass my company on to Schütz, a family-owned business like ELSA, which stands for high-quality products and services world-wide, a long-term business approach and solid financials enabling a strong further development of ELSA in the years to come.”

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