NEWS
Transcontinental completes takeover of Coveris Americas
Canadian flexible packaging giant Transcontinental has completed its US$1.32 billion takeover of Coveris Americas – which manufac- tures a range of flexible plastic products including bags and pouches and both co-extruded and shrink films. Coveris Americas has 21
production facilities in countries including the USA, Canada, Mexico and the UK. Transcontinental says the acquisition puts it in a
strong position in a number of flexible packaging end markets, including dairy, agriculture and consumer products. It also expands Transcontinental’s film manufacturing capabilities. “This acquisition makes
us a North American leader in flexible packaging,” said François Olivier, president and CEO of Transcontinen- tal. “We started building our packaging network four years ago. The acquisition of
Coveris Americas marks a major milestone.” Coveris has also an- nounced plans to sell its rigid packaging business to Lindsay Goldberg for €700m (US$837m). The sale is subject to regulatory approvals. The division generated sales of around €560m (US$670m) in 2017. Once the sale is com-
plete, Coveris will be fully focused on flexible packag- ing – with manufacturing
facilities in five countries and more than 3,800 employees. Excluding the rigids busi- ness, its remaining opera- tions generated sales of around €800m in 2017. Jakob Mosser, CEO of
Coveris, said: “Following the sale of our Americas busi- ness, this will further strengthen our balance sheet and focus Coveris on the flexible packaging market.” �
www.tc.tc �
www.coveris.com
Tek Seng invests in plastic films
ProAmpac will expand its expertise in pet food packaging with the acquisition of Gateway ProAmpac grows in petfood packaging
US flexible packaging company ProAmpac is to acquire Gateway Packaging – a major producer of pet food packaging. Gateway makes multi-wall bags, stand-up pouches and related products. Its products are also sold to the human care and institu- tional markets. “The acquisition of Gateway expands our product offering – with the addition of
multi-wall bags – while also increasing our manufacturing capacity of several pouch formats,” said Greg Tucker, CEO of ProAmpac. ProAmpac is based in Cincinnati and owned by PPC Partners, its management and other co-investors. By adding Gateway, ProAmpac will now have 33 sites globally with nearly 3,700 employees. �
www.proampac.com
RPC buys Nordfolien of Germany
UK-based RPC has acquired Nordfolien of Germany for €75 million (US$90m). Nordfolien is a leading
producer of polyethylene (PE) films for industrial and
www.filmandsheet.com
consumer packaging, with two production sites – in Germany and Poland. Nordfolien’s management will continue to operate the business.
The acquisition is subject
to clearance from Polish and German authorities and is expected to complete in early 2019. �
www.rpc-group.com
Tek Seng Holdings of Malasia is to invest up to RM20m (US$5m) to make plastic industrial film packaging. Loh Kok Beng, group managing director, told StarBiz that the company plans to start the new production line in the second half of this year. The company’s main
interest is PVC sheet, which accounts for nearly two-thirds of its revenue. In the first half of this year, it expects to raise sales in this division by at least 5%. “About half of the PVC output goes to the domestic market, while the remainder goes to overseas markets in Africa, Middle-East, and South- East Asia,” he said. �
www.tekseng.com.my
May 2018 | FILM & SHEET EXTRUSION 5
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