XANO acquires operations in the United States

XANO has through its US subsidiary Integrated Packaging Solutions (IPS) acquired the operations of ALTEK in the United States. ALTEK is a well-regarded supplier of testing equipment for can and lid manufacturing. The acquisition includes the ALTEK brand, product designs, current orders and service agreements, as well as inventory assets, and is being carried out as an asset purchase. 

Through this acquisition, IPS strengthens its position as a comprehensive supplier of support systems and tools for the packaging and food industries. The offering is broadened with complementary service and maintenance solutions aimed at optimising equipment uptime and performance. IPS intends to preserve and build on ALTEK’s legacy by further developing the product portfolio and deepening collaboration with existing customers. The integration of ALTEK’s operations with IPS’s unit in Golden, Colorado, will deliver efficiency gains through digitalisation and process coordination.

The acquisition is expected to have a marginal impact on XANO’s earnings per share.