The joint venture between U.S. based Exopack and multinational manufacturing group, INDEVCO, culminated from a strategic alliance to source PE-based materials from the Middle East to serve North American markets.

In April 2009, the two parties signed their joint venture agreement. Three months later, CEDEX Plastics invested in a three-layer VAREX PE coextrusion line from Windmoeller & Hoelscher.

According to Rabih Frem, Chairman, CEDEX Plastics, ‘This joint venture will have a significant impact on the markets it will serve. It binds two important players of the flexible packaging industry.’

’For INDEVCO, this alliance underscores the significance of CEDEX Plastics for our regional and export operations and its contribution to our overall growth strategy.It is very important in our world today,’ commented Jack Knott, Chairman & CEO, Exopack ‘to be a global supplier of the best product, at a very low cost, made with the right culture backing it. What I found with INDEVCO and the Frem family is that they built a great business that was much respected. It has a true focus on people, on technology, and it is very entrepreneurial. The thought was that it would bring a lot of value to the customers in North America.’

Wissam Moubarak, CEDEX General Manager engaged the audience with a presentation on CEDEX Plastics, addressing three main points: the initial idea behind CEDEX, progress since signing of the joint venture, and CEDEX’s future objectives and vision.