Nip Impressions logo
Sun, Mar 3, 2024 18:30
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
My Profile
Management Side
UFP Global Holdings purchases remaining stakes in two Mexican packaging affiliates

UFP Global Holdings Ltd., a subsidiary of UFP Industries, Inc. (UFPI), has acquired the remaining ownership interests in each of two affiliates in Mexico: NORPAL S. de R.L. de C.V. and TIBASA Universal Forest Products S. de R.L. de C.V.

The companies will be combined as UFP Palets y Embalajes S. de R.L. de C.V. and will operate in three locations: Monterrey, Durango and Guanajuato. Today, these facilities are primarily focused on the production of wooden pallets, but they are growing sales in other structural packaging runways. The business will be managed by veteran UFP Packaging employee Rees Watson, who will be supported by TIBASA founder Hector Labrada as the new national sales director.

"We are grateful to our long-time partners in Mexico, which include the Fuhrken and Labrada families and Arturo Antunez, for their successes in building a strong foundation for our emerging packaging business in Mexico," said Dick McBride, executive vice president for UFP's international operations. "This transaction will enhance our stance as a world-class packaging solutions provider and support our many multinational customers with locations across Mexico."

UFP's other affiliate in Mexico, Pinelli Universal, supplies the U.S. retail building materials market and is not part of this transaction.

The subsidiaries of UFP Industries - UFP Packaging, UFP Construction and UFP Retail Solutions - manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide.


Paperitalo newsletters: Cost zero, value immeasurable. Sign up today.

Printer-friendly format


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: