3M, Combi America and Siat Announce Joint Venture
The three packaging leaders will be co-owners of the new company. The joint venture is positioned to become a leading North American manufacturer of equipment used in automatic erecting, filling and sealing of corrugated boxes. High-volume corrugated-carton users will be able to access a complete line of packaging equipment, as well as soft goods such as tape and taping heads through established 3M distributor channels.
No employment changes are anticipated in any of the three companies. All employees of Combi America will become employees of Combi Packaging Systems LLC. The direction for the joint venture will come from the six members of the board of directors: Pete Ballos, president, Combi America; Janice Ballos, chief financial officer, Combi America; Jim Bauman, manufacturing director, 3M Packaging Systems Division; Mike Faust, packaging equipment business manager, 3M Packaging Systems; Peter Guella, chief executive officer of Siat; and Ulrich Joerg, president of International Packaging Equipment, a U.S. subsidiary of Siat.