“Many of our global customers want to be served locally by partners who have deep, first-hand knowledge of their products and markets,” said Dimitri Panayotopoulos, chairman and interim CEO of Coveris. “We believe this strategy—creating leaner, more focused business units—recognizes this customer preference and will enable us to better meet their needs.”
Coveris further announced as part of its go-forward strategy that it is exploring strategic alternatives for its Americas and Rigid packaging businesses following the realignment, for the continued optimization of the company.
“With approximately $1 billion in revenues and a roster of longstanding customer relationships, the Americas business is well positioned for continued growth.” added Panayotopoulos. “Our Rigid business is likewise ready for the next step in its evolution.”