Master Plastics has announced the acquisition of the business of Mapflex with effect from 1 October 2018. Mapflex, which is based in Cape Town, specialises in the supply of modified atmosphere packaging and solutions which extends the shelf life of fresh foods naturally.
The Master Plastics Group was unbundled from the Astrapak Limited Group on 24 May 2017. In order to give effect to this and prior to the implementation of the unbundling, Master Plastics was incorporated and a number of companies and/or assets were disposed of to the Company through a series of “asset-for-share-transactions” at the end of January 2017 and February 2017, which resulted in the establishment of the Group. The Group includes the manufacturing businesses of Barrier Film Converters (Pty) Ltd (“Barrier Film Convertors”), Peninsula Packaging and Plusnet-Geotex.