All major equipment purchases made since
2018 are now installed and operational
- Broadens extrusion capabilities and addressable
markets
- Increases production capacity and revenue potential
MONTREAL, Nov. 19, 2019 /CNW Telbec/ - Imaflex Inc.
("Imaflex" or the "Corporation") (TSXV: IFX), announces that it has
completed the assembly, installation and wiring of its new
five-layer coextrusion blown film line ("extruder") at its
Thomasville, North Carolina
manufacturing facility. The extruder is now operational and is
expected to increase production capacity by 4.0 million pounds
annually, following an initial ramp-up period.
Imaflex continues to see solid demand for its multi-layer blown
film offerings. "The new extruder, not only increases our
manufacturing capacity, it also broadens our extrusion capabilities
and addressable markets," highlighted Mr. Joe Abbandonato, President and Chief Executive
Officer of Imaflex. "It allows us to offer customers more complex
barrier packaging options, including excellent gas and moisture
barrier protection to extend shelf life and reduce
spoilage."
About Imaflex Inc.
Founded in 1994, Imaflex is
focused on the development and manufacturing of innovative
solutions for the flexible packaging space. Concurrently, the
Corporation develops and manufactures films for the agriculture
industry. The Corporation's products consist primarily of
polyethylene (plastic) film and bags, including metalized plastic
film, for the industrial, agricultural and consumer
markets. Headquartered in Montreal,
Quebec, Imaflex has manufacturing facilities in Canada and the
United States. The Corporation's common stock is listed on
the TSX Venture Exchange under the ticker symbol IFX. Additional
information is available at www.imaflex.com.
Cautionary Statement on Forward Looking
Information
Certain information included in this press
release constitutes "forward-looking" statements within the meaning
of Canadian securities laws. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by the management of the Corporation,
are inherently subject to significant business, economic and
competitive uncertainties, risks and contingencies. The
Corporation cautions the reader that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual financial results, performance or
achievements of Imaflex to be materially different from the
Corporation's estimated future results, performance or achievements
expressed or implied by those forward-looking statements and that
the forward-looking statements are not guarantees of future
performance. These statements are also based on certain
factors and assumptions. For more details on these estimates,
risks, assumptions and factors, see the Corporation's most recent
Management Discussion and Analysis filed on SEDAR at www.sedar.com
and on the investor section of the Corporation's website at
www.imaflex.com. The Corporation disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, events or otherwise, except as expressly
required by law. Readers are cautioned not to put undue
reliance on these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Imaflex Inc.