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Carton printer Colorpak saw its share offer oversubscribed, with all 50 million new shares on offer snapped up by the end of March for an initial price of 50c. The company will officially list towards the end of April, joining Wadepack and Plaspack as medium sized stock market listed packaging companies. Turnover of Colorpak is $49m, the Commins family has retained a 33 per cent stake, with the three Commins brothers, Alex, Paul and Harry all signing new three year contracts. Industry heavyweight Geoff Willis has been appointed board chairman.Managing director Alex Commins has identified acquisition as major route to growth, with the company likely to buy in state capitals outside NSW and Victoria. The company will move its Sydney operation into a new purpose built 7,000sqm facility next year.
Colorpak specialises in the short run high quality package sector, with pharmaceuticals, healthcare and cosmetics sectors its prime areas.
