Virescent & Matrix pack announce creation of Matrix Pack North America JV
Matrix Pack & Virescent Paper Products jointly announce their strategic agreement to establish Matrix Pack North America aiming to service existing and future customers. Matrix Pack will be immediately able to produce and deliver paper and bio-resin straws to the USA and Canadian markets targeting by Q1 2023, to build a capacity for the first year, of 2 billion paper straws and 5 billion bio-resin straws. Production will run in Virescent’s facility in Florence, KY for the next year.
Matrix Pack will provide all the necessary, non-existing equipment, during the very first months of 2023. Matrix Pack North America thus aims to be the largest producer within Q1 2023 and the most reliable partner in the markets of QSRs and HORECA in North America.
Soon, and within 2023, Matrix Pack will also be able to deliver to North American market fiber products for the moment produced in its facilities in Europe (lids, cutlery, etc.). Stuart Seltman, President of Virescent Paper Products, stated “I sincerely appreciate the exciting opportunity to partner with the Matrix Pack team, in order to bring environmentally friendly products to the North American market.
I am very impressed by the energy, vision and expertise of Matrix Pack and look forward to being a part of this strategic partnership.” Lyberis Polychronopoulos, President and CEO of Matrix Pack, stated “I would like to thank Stuart and his team for their constructive attitude and ideas during the past weeks, which enabled the conclusion of this deal. This agreement gives a new, amazing dynamic to Matrix Pack group, which today has an installed production capacity of over 20 billion straws in paper and bio-resin in Europe, having 5 production units in 3 countries and several supporting logistics centers.”
Matrix Pack: www.matrixpack.gr Virescent Paper Products: www.matrixpack.gr