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TC Transcontinental buys 60% stake in plastic supplier Trilex

TC Transcontinental has acquired a 60-percent participation in Industrial y Commercial Trilex C.A., a plastic packaging supplier located in Guayaquil, Ecuador, employing about 170 people. Trilex specializes in the production and sale of packaging materials and banana farm plastics for protection and pest control.

“The acquisition of a majority participation in Trilex, a leading supplier to the banana export industry, is aligned with our growth strategy for the Packaging Sector,” says François Olivier, President and CEO of TC Transcontinental. “Trilex expands our already well-established footprint in Latin America with a second location in Ecuador, in addition to our plants in Guatemala and Mexico, and our sales office in Costa Rica. We are pleased to acquire a majority participation in such a respected company that has fostered solid business relationships with a large customer base over the years.”

“The banana industry presents very specific needs such as protection during the growing cycle, crop yield improvement, as well as sun and pest damage reduction, in addition to export packaging needs,” Thomas Morin, President of TC Transcontinental Packaging, adds. “Thanks to Trilex, we will bolster our product offering for the agricultural market, namely with banana tree bags and box liners, and strengthen our position as a key supplier to the banana industry in Latin America. This market is the perfect example of how active ingredients in films can lead to better harvests and how important food protection is to extend product shelf life for export.”

This is TC Transcontinental’s eighth flexible packaging acquisition since entering the industry in 2014. TC Transcontinental Packaging has operations in Guatemala, Mexico, Ecuador, United Kingdom, New Zealand and China. The sector has over 4,000 employees, the majority of which are based in the United States.