Developer Egnis has announced a partnership with the Oklahoma government in hopes of expanding the resealable can business of its German subsidiary Xolution in the U.S. The signing ceremony for the commercial agreement was held recently in Seoul.
Egnis acquired Xolution, a company known for its innovative resealable can closure, in 2022. This closure addresses the problem of canned beverages that are difficult to carry after opening. Xolution’s shrink cap is making its mark in the spirits market, with some of the world’s leading wine and beer producers choosing Xolution products for their labels, citing its portability, according to Egnis.
To meet growing demand, Xolution is expanding its production facilities. Currently, operations that have been dispersed between the Czech Republic and Bremen, Germany, are being consolidated in the Munich region, which will increase production capacity. After consolidation, the annual production scale will increase from 120 million units to 800 million units. The target is to reach between 8 and 9 billion units by 2029, the company said.
As the world’s largest beverage market, the U.S. accounts for 80 percent of Xolution’s product sales, which has led the company to explore the possibility of establishing a local factory there.
