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Pactiv

Pactiv Corporation Invests $14.5 Million in Production Capacity for New Technology Molded Fiber Carryout Containers Made from Sustainable Materials

2010-07-20 18:06
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Additional Investments in Producing Compostable U.S.-made Containers

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV), a leader in the foodservice packaging industry, announced today it has completed the first three phases of a $14.5 million project to produce high-quality molded fiber hinged lid carryout containers and other products at its Moorhead, Minn., facility. Initial production commenced early in 2009 and the project is expected to be fully operational by October 2010.

The three newest manufacturing lines add 25 jobs and produce molded fiber products sold under the brand EarthChoice™ Fiber Blend Hingeware. The implementation of this new molded fiber manufacturing process and related customer demand has been so successful that Pactiv is adding additional capacity later in 2010.

“Our food service customers are looking for additional choices for carry-out food packaging that is sustainable and compostable… Pactiv offers the latest in sustainable materials, performance and innovation,” said Pete Lazaredes, Executive Vice President and General Manager of Pactiv’s Foodservice/Food Packaging segment. “Not only are we pleased with response to our EarthChoice™ products -- we are already anticipating additional significant investments in our U.S.- based molded fiber manufacturing capabilities. Unlike many competitive offerings, Pactiv products are manufactured in the U.S., reducing the environmental impact of overseas transportation and distribution.”

Pactiv’s new proprietary technology allows for precision molding which results in a lightweight, smooth, strong, high-quality foodservice carryout container. The process allows for finely-molded features such as curves, folds and precise in-molded closures. Made from a blend of wood pulp fibers from sustainable and renewable resources, EarthChoice™ Fiber Blend Hingeware is ASTM D 6868 certified, Cedar Grove Composting-approved and is processed without chlorine.

Pactiv Corporation (NYSE: PTV) is a leader in the consumer and foodservice/food packaging markets it serves. With 2009 sales of $3.4 billion, Pactiv derives more than 80 percent of its sales from market sectors in which it holds the No. 1 or No. 2 market-share position. Pactiv’s Hefty® brand products include waste bags, slider storage bags, disposable tableware, and disposable cookware. Pactiv’s foodservice/food packaging offering is one of the broadest in the industry, including both custom and stock products in a variety of materials. For more information, visit http://www.pactiv.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6364230&lang=en

Contacts

Pactiv Corporation
Media Relations Contact:
Matthew Gonring
847-482-2407
mgonring@pactiv.com
or
Investor Relations Contact:
Christine Hanneman
847-482-2429
channeman@pactiv.com

 

Pactiv Corporation's EarthChoice Fiber Blend Hingeware foodservice carryout containers are made from sustainable materials and are compostable. (Graphic: Business Wire)