Innovia Invests $35 Million in Sustainable Film Project

TORONTO, Nov. 02, 2020 (GLOBE NEWSWIRE) -- CCL Industries Inc. (“CCL”) (TSX:CCL.A) (TSX:CCL.B), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, today announces plans for a strategic new capacity investment at its Innovia Films unit. A new six-metre multi-layer co-extrusion line will be installed at one of its continental European facilities to produce “Ecofloat” shrink films. This hybrid polyolefin film facilitates easy separation of labels from PET bottles and other types of plastic containers in the recycling process to enable bottle-to-bottle circularity, an important goal for global food and beverage brand owners. The capacity comes on line in early 2022 with most of the capital deployed in 2021.

Guenther Birkner, President of Innovia and CCL’s Food & Beverage business, commented, “Many consumers and brand owners value the convenience and reclose capability of plastic bottles and containers but also recognize these can no longer clutter the world’s waste streams and must become circular in use. Easy removability of labels to avoid contaminating post-consumer resins is therefore mission critical and our exciting new, proprietary Ecofloat development brings a unique solution to this industry dilemma. We anticipate a considerable portion of the new capacity will be used internally by our CCL Label operations, which supply many of the world’s leading brands.”

Geoffrey T. Martin, President & CEO of CCL, concluded, “We are very pleased with the much improved financial performance at Innovia. This important investment reaffirms our commitment to sustainability leadership in the label industry.”

Forward-looking Statements

This press release contains forward-looking information and forward-looking statements, as defined under applicable securities laws, (hereinafter collectively referred to as “forward-looking statements”) that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward looking statements are typically identified by the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans” or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding capacity investment in the Innovia Films segment of CCL and the timing of the new multi-layer co-extrusion line going live.