AptarGroup announced that it will realign two of its business reporting segments effective January 1, 2023. Aptar’s two renamed reporting segments will be Aptar Closures and Aptar Beauty. The new segment structure is designed to streamline operations, improve efficiencies and enable a stronger customer focus across all closure applications. Aptar Closures will focus specifically on leveraging the closures platform with an aim of broadening the markets that Aptar serves with these technologies. Combining Aptar’s closures activities into one segment will allow the Company to better serve customers by concentrating its closures product design, marketing and manufacturing expertise. Additionally, the emphasis on closures within one segment will help to streamline operations and better leverage these capabilities. The realignment will also focus and simplify Aptar Beauty and strengthen the company’s competitive position. Aptar Beauty will develop and provide complex spray and dispensing solutions for the fragrance, cosmetics, skincare and personal care markets. The segment will also supply home care, food and beverage customers that use spray or pump dispensing technologies. Aptar will continue to have three reporting segments: Aptar Pharma, Aptar Beauty and Aptar Closures. Aptar will disclose the recast historical financials of the new segments before its first quarter 2023 results.
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