UFP Industries has made an equity investment in Italy-based Enwrap Logistic & Packaging to expand its international industrial packaging operations.
Enwrap is a new company established for the management of logistics and packaging business of its predecessor Job Service. Based in Milan, Enwrap offers high-value and mixed material industrial packaging and logistics services.
The company is involved in designing, production and marketing of industrial packaging in coordination with the logistical processes.
Enwrap manufactures packaging and crates for shipments by land, air and sea, as well as special packaging solutions. The company manages eight locations in Italy, which generates around $14m in sales in 2019. Job Service president and managing director Luigi Postiglione will oversee the new joint venture.
Postiglione said: “UFP has a clear motivation to grow its global packaging business, and we share the same passion. Enwrap combines UFP’s global resources with our custom product range and access to markets, offering new capabilities to customers throughout Europe and the Middle East.”
UFP international operations executive vice president Dick McBride said: “The Enwrap team is the type of partner we have been seeking to establish our presence in Europe.
“Their strength in design, manufacturing and logistics will provide us with the platform we need to expand throughout the continent. In addition, their passion and work ethic are an important cultural match with UFP Industries. We look forward to our future growth together.”
Through its subsidiaries, UFP Industries distribute wood, wood composite and other products to three markets such as retail, construction and industrial. Established in 1955, the company has affiliates across North America, Europe, Asia and Australia.