|
Confoil
and Kingfoil join forces
Australia's
two major aluminium
food tray makers, Confoil
and Kingfoil, have
joined forces in a
deal set to bring benefits
for customers of both
businesses.
Announcing the acquisition
of Kingfoil, Confoil
CEO Kris Srikanthan
said that, together,
the two would reap
greater economies of
scale and remain internationally
competitive.
"This is one
of those rare 'good
news' stories where
Australian manufacturers
are outperforming imports
and we intend to keep
it that way," Kris
said.
"Confoil
and Kingfoil are
Australian owned
and operated companies
with proud 40 and
50-year histories.
Both are already successful
and profitable with
progressive management
teams that can see
the long-term advantages
of joining forces over
continuing to work
as rivals."
While Confoil and
Kingfoil will continue
to operate as separate
businesses, greater
buying power and better
utilisation of facilities
mean customers will
benefit from broader
product ranges, globally
competitive pricing
and enhanced services.
"Whether you're
a Kingfoil or Confoil
customer, you won't
notice a lot of change
other than that we'll
be able to supply you
from warehouses in
both Victoria and New
South Wales, which
we expect will make
deliveries even faster," Kris
said.
"You'll
be dealing with the
same people and the
same products will
still be available.
It's not about closing
factories or cutting
jobs. Instead, it's
all about leveraging
each other's complementary
strengths to keep prices
down without sacrificing
service. This approach
means Australia's food
manufacturers can count
on the ongoing flexibility,
quick turnarounds and
responsiveness that
only strong local packaging
suppliers can provide."
Kingfoil's
Sydney manufacturing
facility is dedicated
to aluminium food trays
while Confoil's Melbourne
plant produces a range
of aluminium packaging,
Dualpak dual ovenable
paperboard food trays
and Novacart decorative
baking moulds.
|