The Coweta County Development Authority (CCDA) on Nov. 13 approved a $31.3 million bond resolution to support an expansion at Winpak Films in Senoia. Funds from the revenue bond will be used for current and near-term equipment purchases.
CCDA President Greg Wright said Winpak is a world leader in the manufacturing and distribution of high-quality packaging materials and innovative packaging machines that are sold in combination with packaging materials. The company’s products are used primarily for the protection of perishable foods, beverages and in health care applications, Wright said.
Wright said the expansion is for new equipment that will be put in place between now and 2016.
“We are very proud of our existing industries in Coweta County, and we are delighted to be able to help support Winpak with the expansion in Senoia,” said CCDA Chairman David Brown. ”Winpak recognizes that Coweta County is a great place to do business and we appreciate what the company has meant to the City of Senoia and to Coweta County.”
Winpak’s Senoia facility is part of the company’s Flexible Packaging Materials business unit.
Wright noted that neither CCDA nor Coweta County is responsible for repayment of the bonds.
“The bonds approved by the authority are revenue bonds, which are paid back by the company from the revenues it generates,” Wright said. ”The bonding process is simply a way for the company to borrow money at a more competitive interest rate and is used by many communities in Georgia as an economic development tool.”
Winpak is part of a global packaging group operating ten specialized production facilities in Canada, the United States and Mexico offering customers global coverage and expertise. The North American business units assist customers throughout the United States, Canada, Latin America and the Pacific Rim countries primarily for the protection of perishable foods, beverages and in health care applications, according to Winpak. The Winpak Group is headquartered in Canada in Winnipeg, Manitoba.
Winpak’s strategic alliance with Wipak, one of Europe’s leading manufacturers of packaging materials, allows global customers to reduce costs, simplify product development and consolidate packaging solutions. The Wipak Group is headquartered in Helsinki, Finland, and has operations in Germany, France, Great Britain, Spain, Finland, Poland and Netherlands, according to Wipak.
