A person or a company which buys grey goods and sells them as finished fabrics. A converter organizes and manages the process of finishing the fabric to a buyers' specifications, particularly the bleaching, dyeing, printing, etc.
A company which manufactures packaging from raw materials. Although there may be more than one company involved in the conversion process, the company who makes the final, recognisable packaging item should pick up the Conversion obligation. For example, company A makes self adhesive paper that is used to make labels for packaging. Their customer, company B, prints the labels and cuts them to size before selling on to the packer filler. Company B should take the conversion obligation on the labels.