ORBIS buys out partner in joint venture

Oconomowoc-based ORBIS Corp., North America’s leader in sustainable reusable packaging, announced it has completed the acquisition of Cartonplast LLC’s interest in the CORBI Plastics LLC joint venture.
In 2005, Cartonplast LLC and ORBIS formed a joint venture, creating CORBI Plastics.
CORBI Plastics operates a manufacturing facility in DeForest, Wis., and 11 service centers across the United States. In addition to manufacturing solid and plastic corrugated sheet packaging, CORBI Plastics delivers customer value by owning and managing pools of plastic reusable pallets, top frames and divider sheets that protect food, beverage and aerosol packaging products during storage and distribution. It specializes in managing transportation complexities, facilitating the cleaning process and tracking assets. CORBI Plastics has approximately 110 employees in the United States.
Bill Ash, president of ORBIS, said, “Our customers are continually looking to ORBIS for leadership and expertise in ways to reduce their supply chain costs with reusable packaging. This is a tremendous opportunity to meet the diverse and growing needs of the marketplace with an integrated product line and enhanced service levels to support our collective customers. This will expand ORBIS’ service capabilities, with additional locations to better serve a wider group of customers.”
Financial terms of the transaction were not disclosed.

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