SE Labels has demerged from its Norwegian parent company, Rieber & Son, and will merge with sister company Riflex Folie.
The demerger is the first part of SE Labels' divestment from Rieber & Son and is expected to be completed in the first half of this year. Its final name will be considered once shareholders have given approval.
The firm will "run on its own two feet", according to SE Labels group managing director Ken Forster.
The move follows Rieber & Son's decision to divest its non-core business to focus on key food interests.
SE Labels has also invested 3m in new equipment, including two Aquaflex presses for its new Sparkprint facility at Newton Aycliffe, County Durham.
It leased the 1,860m2 Sparkprint facility, which will house 50 staff, after its former plant - 18 miles away - was flooded in November. Business stopped for a while but was resumed at other sites. "Our customers were very loyal," said Forster.
Have your say in the Printweek Poll
Related stories
Latest comments
"It's wrong to assume the Chinese are behind the curve on automation - it used to be the case that manual processes were kept becuase it was cheaper to use them than buy the automated equipment,..."
"Incredible, what a business!"
"Sad news. Their prices were unsustainable - it was a race to the bottom."
