The business will be integrated into Sealed Air's existing Medical Applications business unit.
ATE's Costa Rican operation was started in 2005. The company is dedicated to custom design thermoformed parts for the medical, pharma and bio-pharma markets. It has Class 8 (100,000) clean room facilities and the site is ISO 9001 certified for medical device packaging.
Teresa Preskar, VP and General Manager, Sealed Air Medical Applications said “We are very excited to expand our operations to Costa Rica. ATE enjoys excellent business relationships in the country and this site will become a key element of Sealed Air Medical's strategic expansion into Central and Latin America. The Medical Sector in Costa Rica has experienced significant growth and a large number of our existing medical device and pharmaceutical customers have already set up manufacturing facilities there. With the purchase of ATE Costa Rica, we will provide local access to products and services with the continued benefits of the Sealed Air Nelipak® design and technical expertise already in place in the US and Europe.”
Financial terms of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.
ATE's Costa Rican operation was started in 2005. The company is dedicated to custom design thermoformed parts for the medical, pharma and bio-pharma markets. It has Class 8 (100,000) clean room facilities and the site is ISO 9001 certified for medical device packaging.
Teresa Preskar, VP and General Manager, Sealed Air Medical Applications said “We are very excited to expand our operations to Costa Rica. ATE enjoys excellent business relationships in the country and this site will become a key element of Sealed Air Medical's strategic expansion into Central and Latin America. The Medical Sector in Costa Rica has experienced significant growth and a large number of our existing medical device and pharmaceutical customers have already set up manufacturing facilities there. With the purchase of ATE Costa Rica, we will provide local access to products and services with the continued benefits of the Sealed Air Nelipak® design and technical expertise already in place in the US and Europe.”
Financial terms of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.
Companies in this press-release
