Anchor Packaging Inc. will close its Mount Vernon, Ky., thermoforming plant and move production of its Microlite deli containers from there to Jonesboro, Ark., by mid-August. The closure is part of a restructuring plan that will also see the company lay off 100 employees at its headquarters in St. Louis.
Food packaging major Anchor Packaging Inc. has acquired a building in Jonesboro. Ark., that it is converting to a warehouse in which it eventually will introduce manufacturing. The company plans to invest USD 10 million in the building and create 50 new jobs.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5166
Published Date: Aug 16, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for automotive is the major factor driving the market growth.
The market size of thermoformed plastic is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Pactiv LLC, Sonoco Products Company, Anchor Packaging, Inc., Genpak LLC, D&W Fine Pack LLC, Placon Corporation, and others.
The healthcare segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.