Liberty Diversified Holdings, Inc. (Orange, Calif.) says it has acquired Innovative Packaging Technologies, Inc. (IPTI) from UTEK Corp. (Plant City, Fla.). IPTI was previously a wholly owned subsidiary of UTEK and is now a 100% wholly owned subsidiary of Liberty Diversified Holdings, Inc. The agreement also includes the transfer of two separate licenses for innovative and technologies with specialized application for the printing and packaging industry.
IPTI contains two licenses for technologies developed by researchers at the University of Arkansas. The first technology, "Edible Film", is an all-natural, edible antimicrobial packaging film, which has been designed to protect consumers against common food-borne illnesses caused by pathogens such as Salmonella and E. coli. The technology can also be used in the medical, medical instruments, electronics, computer and technology IPTI also contains a license for a variable image packaging film that can potentially double the viewable surface area of packaging products by allowing the film to transmit two separate images. A change in the perceived image is accomplished using a series of lenticular lenses to compress areas of an original image and refract them at a specified angular range, achieving a 'flash' effect for customers traveling past the products. The potential applications for this technology are virtually limitless.
In response to this announcement Ron Touchard, CEO and co-chairman of Liberty Diversified Holdings, Inc., said, "We are very enthusiastic about our acquisition of Innovative Packing Technologies, Inc. We believe that IPTI's exciting new technologies will allow us to provide new and more varied packaging products, both to our current customer base and through our future subsidiaries. These new technologies, combined with our aggressive acquisition plan, will help us to expand our market share at a much faster pace than previously possible. These are exciting times in the printing and packaging industry, and we believe that everyone should be keeping a sharp eye on the current round of activity taking place, especially in regards to mergers, acquisitions & the implementation of new technologies."
Source: Liberty Diversified Holdings, Inc.