The former Home and Personal Care (HPC) business unit of Rexam has been established as a new company clalled KubeTech Custom Molding.
KubeTech Custom Molding president and CEO Steve Wirrig said the company aims to be the preferred choice for custom molding solutions.
"As a stand-alone company, with the backing as an affiliate of Sun Capital Partners, Inc., we will be further enabled to satisfy our customers with competitive custom molding solutions while creating lasting career and growth opportunities for our employees," Wirrig said.
KubeTech will be privately held and will operate as an affiliate of Sun Capital Partners.
Earlier Rexam sold its Cosmetics, Toiletries and Household care products division to Sun Capital Partners in 31 December for $459m.
The sale included HPC business and the Cosmetics and Rexam Plastic Packaging Asia businesses.
US-based KubeTech operates in five manufacturing sites in North America and one site in Poland.
