Company Partners with Sihl to Develop Proprietary Solutions for Fast-Growing Digital Flexible Packaging Market
WEST WARWICK, R.I.--(BUSINESS WIRE)--AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today introduced the TrojanLabel® T2-L, the world’s first narrow web digital flexible packaging press. Customers will have the opportunity to see and test the new T2-L for the first time next week at PACK EXPO Las Vegas and Labelexpo Europe 2019.
Designed to accommodate both short-run and high-volume digital printing, the T2-L is the ideal flexible package printing solution for brand owners, manufacturers and commercial printers to efficiently scale and grow their businesses. Using Natura™ inks, which are formulated with nearly 70% water, the T2-L delivers superior print quality onto flexible packaging using inks that are safer for food labels, creating significant savings for customers over the lifetime of the printer.
To support the rapidly growing digital print for packaging business, AstroNova has partnered with Sihl, a global leader for digital print substrates. In addition to offering Sihl’s environmentally friendly ARTYSIO brand packaging product portfolio for the T2-L, AstroNova is partnering with Sihl to develop a range of new flexible packaging materials. Independent auditing firm Intersoh recently awarded the highest rating for recyclability to Sihl’s ARTYSIO materials, which include metalized ultra-high barrier and pure polypropylene versions.
“Its high-quality, recyclable, flexible packaging materials make Sihl a perfect partner for AstroNova in providing a total solution that is environmentally friendly, food-friendly and sustainable,” said AstroNova President and CEO Greg Woods. “We are proud to partner with Sihl on this initiative, offering our customers what we believe will be the flexible packaging solution with the highest return on investment in the industry.”
According to research firm Smithers Pira, total worldwide sales for flexible packaging are expected to grow to $269 billion in 2024 from $228 billion this year. “Our T2-L plays directly into strong secular trends driving the growth of the flexible packaging industry, including increased urbanization, a greater consumer focus on sustainability and the growth of e-commerce,” Woods said. “Our technology helps to create lightweight, durable packaging that reduces waste, lowers transportation costs, and is safer for the environment.”
AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes and services a broad range of products that acquire, store, analyze and present data in multiple formats. The Product Identification segment offers a variety of hardware and software products and associated supplies that allow customers to mark, track and enhance the appearance of their products. The segment’s two business units are QuickLabel®, the industry leader in tabletop digital color label printing and TrojanLabel®, an innovative leader for professional label presses and specialty printers. The Test and Measurement segment includes the Test & Measurement business unit, which offers a suite of products and services that acquire, record and analyze electronic signal data from local and networked sensors. The segment also includes the AstroNova Aerospace business unit, which designs and manufactures avionics equipment and systems that serve the world’s aerospace and defense industries with proven advanced airborne technology solutions for both the cockpit and the cabin. The key products include flight deck printers, networking hardware, and related accessories.
AstroNova is a member of the Russell 3000® Index, the Russell 2000® Index, the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting www.astronovainc.com.
Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the launch of the TrojanLabel T2-L printer and partnership with Sihl, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2019 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.
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