Consol: Sale of two plastics businesses in South Africa

South African glass giant Consol has sold off two out of its three plastics packaging divisions – film manufacturer Consol Flexibles and its rigid thermoformed unit Plastform.
Consol Flexibles was bought by Polypak as an ongoing concern for an undisclosed sum with the deal taking effect from 1 May. The board of directors at Consol made a strategic decision to exit the flexibles packaging industry as it was a non core business. Plastform is being bought as an ongoing concern by the Astrapak packaging group. The deal is set to take effect from the end of June but has yet to be approved by the South African Competition Commission. Plastform is a leading South African packaging supplier focusing on the dairy, fast food and fresh food markets. Consol was originally established as a glass manufacturer during the First World War to combat a glass shortage. Glass has grown in popularity in South Africa over recent years as it has been used as a brand differentiator within the food sector. Consol retains its rigid plastics division which supplies plastic packaging for household chemicals, paints, food products, motor oils, swimming pool treatments, cosmetics, toiletries and pharmaceuticals.

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