IPEC, which had sales of approximately $35m for the last twelve months is headquartered in New Castle, Pennsylvania.
"We believe IPEC provides an excellent line extension to our closures business," said Bob Lewis, silgan's executive vice president and chief financial officer, "With manufacturing facilities in New Castle, Pennsylvania and Brewton, Alabama, we believe IPEC has built a strong competitive position in plastic closures for the dairy and juice markets.”
“Combined with our existing closures business, this transaction provides new opportunities to broaden our existing franchise," Lewis concluded.
US-based Silgan produces blow molded bottles and injection molded closures as well as metal food containers.
Last year, the company reported annual net sales of approximately $3.07bn.