Privately owned company Corex Plastics has entered into a sale agreement to acquire Megara Australia, jointly committing to designing and producing high-quality products locally and supporting jobs and local communities.
The companies said the merger enables extends Australian plastic manufacturing and recycling and delivers to local customers a local plastic manufacturing and recycling one-stop-shop.
Megara was founded more than 50 years ago and is regarded as one of Australia’s leading manufacturers of graphics-grade solid polypropylene sheet and innovative Point-of-Sale display, consumer packaging, presentation, and stationery products.
Corex extrudes both fluted polypropylene sheet (Corflute) as well as solid plastic sheet in a broad range of engineering resins.
Corex also offers a range of specialist fabrication services and provides closed-loop solutions via its well-established Plastics Recycling Division.
As both businesses share a common DNA – a commitment to Australian manufacturing and a focus on delivering environmentally friendly bespoke solutions to customers – a merger was forged.
Corex managing director Simon Whiteley said, “Merging Corex and Megara extends our offering in the plastic sheet manufacturing and recycling industry in Australia. Megara’s Promeg graphic polypropylene sheet products are an excellent addition to our industrial plastic solid sheet and Corflute product lines.
“Together, we’ll be able to deliver a unique set of capabilities to the market and service a more diverse range of customers and industries. We’ll be providing a one-stop-shop covering sheet manufacturing and custom product design – a local manufacturing powerhouse!”
Megara CEO Mark Weiss said, “We couldn’t be happier to see Megara join forces with another great Australian manufacturer. This newly combined entity will be capable of delivering additional benefits and value to our existing customers. These include an expanded product offering, greater production and recycling capacity and increased creative options”.