Berry Plastics Corporation Evaluating Major Thermoform Manufacturing Expansion
January 03 , 2006
EVANSVILLE, IN -- Berry Plastics Corporation ("Berry") announced that Packerware Corporation, a wholly owned subsidiary of Berry, is being considered for a major expansion to increase Berry's thermoform manufacturing capacity targeted for a third quarter 2006 start-up. Berry is evaluating the Lawrence, Kansas location for the project that could include a capital investment in equipment and building improvements in the first three years of up to $58 million. The project is expected to increase employment at the Lawrence operation by approximately 78 positions over the three-year period. Berry's continued expansion plans call for a potential increase in capital investment and employment in years four and five of the project.
Berry Plastics Corporation, a portfolio company of Goldman Sachs Capital Partners and JP Morgan Partners, is a leading manufacturer and marketer of rigid plastic packaging products. The company is headquartered in Evansville, IN, and, together with its subsidiaries, has plants in Ahoskie, NC; Anaheim, CA; Baltimore, MD; Bowling Green, KY; Charlotte, NC; Chicago, IL; Chicago Ridge, IL; Easthampton, MA; Henderson, NV; Iowa Falls, IA; Jackson, TN; Lancaster, PA; Lawrence, KS; Milan, Italy; Mexico City, Mexico; Monroeville, OH; Monroe Township, NJ; Norwich, England; Oxnard, CA; Phoenix, AZ; Richmond, IN; Sarasota, FL; Streetsboro, OH; Suffolk, VA; Syracuse, NY; and Woodstock, IL.
Certain statements and information included in this release may constitute "forward looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Berry Plastics to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management?s projections, forecasts, estimates and expectations is contained in the companies' SEC filings. The companies do not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
