Mauser Packaging Solutions Announces Agreement to Acquire the Reconditioning Business of Incineration Recycling Services, Container Recyclers of Camden and Sustainable Decarbonization Services
10 December 2018
OAK BROOK, Ill., Dec. 6, 2018 /PRNewswire/ -- Mauser Packaging Solutions ("Mauser"), a leading global supplier of industrial rigid packaging products and services, entered into a definitive agreement to acquire the industrial container purchase, reconditioning and recycling assets currently owned by Incineration Recycling Services, Inc., Container Recyclers of Camden, Inc., Incineration Recycling of Texas LLC, Sustainable Decarbonization Services LLC, R&R Tire LLC, and Robert J. Fogel and Ronald J. Fogel, Jr., (hereafter collectively known as "IRS"). Terms of the transaction were not disclosed.
"IRS is the right partner for us at exactly the right time," said Charles Veniez, President, Mauser Packaging Solutions-Reconditioning. "We're excited to have the team join our Mauser Packaging Solutions organization. Their positions in the important Northeast U.S. and Texas markets perfectly complement our current product and service portfolio, while the de-carbonization business provides us with an exciting new pathway for our recycling services platform."
"Rob, our family and I would like to thank all of our IRS colleagues in New Jersey and Texas for all of their many years of service and dedication," Ron Fogel, co-owner of the companies said. "We share a special bond with our employees and customers alike, and by choosing Mauser Packaging Solutions as our partner for the future, we know the future of the enterprise is in good hands. A big thanks to all our customers for their many years of loyal support and the wonderful relationships created over the years, and we look forward to continuing to service you in the future."
About Mauser Packaging Solutions
Mauser Packaging Solutions is a global leader in solutions and services across the packaging lifecycle, providing large and small metal, plastic, fiber and hybrid packaging worldwide to companies in industries from food, beverage, personal care and pharmaceuticals to chemicals, petrochemicals, agrochemicals and paints. Bringing together the very best of its four legacy companies— BWAY, MAUSER Group, NCG and ICS—Mauser Packaging Solutions offers its customers true sustainability at scale. Visit mauserpackaging.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the transaction, including future financial and operating results, and our plans, objectives, expectations and intentions. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. For example, these forward-looking statements could be affected by factors including, without limitation, the ability to successfully integrate IRS's operations and employees with MPS's; the ability to realize anticipated benefits and synergies of the transaction; the potential impact of announcement of the transaction or consummation of the transaction on relationships, including with employees, customers and competitors; the amount of the costs, fees, expenses and charges related to the transaction; and changes in financial markets, interest rates and foreign currency exchange rates.
In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this press release might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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