NEWS
US-based Tredegar sells Terphane to Oben Group
Peru-based packaging specialist Oben is to buy flexpack company Terphane from Tredegar Corporation for around US$116 million. Terphane employs
around 500 people and has two manufacturing sites – in Cabo de Santo Agostinho, Brazil and Bloomfield, New York. The company is headquartered in São Paulo, Brazil, and exports to 29 countries. “We believe that Oben’s
purchase of Terphane will enhance the scale and growth opportunities in the global flexible packaging market,” said John Steitz,
IMAGE: OBEN GROUP
president and CEO of Tredegar. For the 12 months ended
30 June 2023, net sales and EBITDA from Terphane’s ongoing operations were US$152m and US$16.4 million, respectively. Closing of the transaction depends on satisfying customary conditions, including clearance by competition authorities in Brazil and Colombia.
Gonzalo Belaunde, CEO
of Oben, added: “This will strengthen our position as a global player in flexible films, by expanding capacity of BOPET films and provid-
ing a great platform to expand production for other films – especially BOPP – in the US and Brazil.” In July, Oben acquired
Oben has bought flexpack company Terphane from Tredegar for around US$116m
the flexpack film manufac- turing facility of Mexico’s Agusa – including its KristaFilm brands and portfolio of BOPP, CPP, metallised, and PE films. Prior to this, Terphane announced a strategic partnership with Origin Materials to produce sustainable, high-perfor- mance bio-polymer films. Terphane has signed a multi-year capacity reserva- tion agreement to purchase PEF bio-polymer to make BOPEF film – for food and beverage packaging and high-value industrial applications. Rich Riley, co-CEO of Origin Materials, said: “This partnership represents further progress in our mission to enable the world’s transition to sustain- able materials.” Origin converts non-food biomass into chemicals using a patented process.s �
www.obengroup.com �
www.terphane.com
Isik Plastik buys US sheet firm
Isik Plastik of Turkey has acquired Ug Plastic Inc – a sheet manufacturer that trades in North America as US Plast.
US Plast makes multi- wall and solid polycarbon- ate sheet, and multi-wall polypropylene sheet. It operates an 8,000 m² production facility in York, Pennsylvania, where it has an annual production capacity of 11,500 tonnes. Its products are sold into many end markets. “We entered the US
market in 2016 with the acquisition of Sirius Plastic,” said Abdullah Ceker, CEO of Isik Plastik. “With the Ug Plast transac- tion, we will reduce lead times, create cost advan- tages and acquire a new customer base.” Isik operates two
production facilities in Turkey, with a total production area of 28,000 m² and annual production capacity of 65,000 tonnes. Its products include plastic sheet and thermoformed food packaging. �
www.isikplastik.com �
https://usplast.com
UPM Biochemicals takes over SunCoal
UPM Biochemicals has acquired SunCoal Industries of Germany, which has developed a technology portfolio to make performance products from renewable raw materials. SunCoal’s technology will now be
integrated into the production of UPM’s BioMotion renewable functional
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fillers – one of the products made at UPM’s biorefinery in Leuna. “This will strengthen our position in
renewable chemicals and marks a next step in the growth of our biorefining businesses,” said Winfried Schaur, executive vice president for technol- ogy and biorefining at UPM. “Scaling
FILM & SHEET EXTRUSION | September 2023
our biorefinery businesses is one of the key transformative steps for UPM.” SunCoal has pilot and lab facilities and employs 30 people. Its hydrother- mal treatment technology has been licenced to UPM for the production of wood-based functional fillers. �
www.upmbiochemicals.com
www.filmandsheet.com
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