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M&As: Tekni-Plex to acquire three Amcor facilities; Ineos selling melamine and paraform businesses

Tekni-Plex to acquire three Amcor facilities

US end products manufacturer Tekni-Plex says it has signed a definitive purchase agreement to acquire three manufacturing facilities from packaging giant Amcor's Flexible Packaging business unit.

The facilities, located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts, provide a broad portfolio of sterilisable medical device packaging substrates including coated and uncoated Tyvek, heat-seal and cold-seal coated paper and films, medical grade laminates and die-cut lids and labels.

"The acquisition expands our complex packaging solution portfolio for medical device manufacturers, many of whom are our customers today. Tekni-Plex's medical products businesses – Colorite, Natvar and Dunn – have been supplying these same customers globally for decades, and we will continue to deliver on their quality and service expectations," said Paul Young, President/CEO, Tekni-Plex. "The acquisition of these three plants also brings us 150 highly qualified and experienced employees who form the backbone of the business. We are happy to welcome them to the Tekni team of 3,000 strong across the world."

The Amcor manufacturing facilities purchase is the eleventh acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add ons.

The closing of the acquisition is conditioned upon approval by the US Department of Justice and the closing of the merger between Amcor Limited and Bemis Company, Inc.

In other news, Ineos Enterprises says it is selling its Ineos Melamines & Paraform to Prefere Resins Holding GmbH. The agreement covers sites in the US, Germany and Indonesia.

Ineos Paraform is Europe’s second largest producer of paraformaldehyde. It employs around 120 people at its Mainz facility located close to the River Rhine and the port of Mainz. The business has been producing formaldehyde and its downstream derivatives for more than 100 years and continues to innovate and develop its business.

Ineos Melamines is said to be a world leader in the supply of melamine resins into coatings, paper, textile, tyre, rubber, and decorative laminates industries. The business employs around 150 people at sites in Springfield, US; Frankfurt, Germany; and Surabaya, Indonesia.

Prefere Resins is a leading European producer of phenolic resins, headquartered in Erkner, Germany, and operates production sites in Finland, Germany, UK, France, Poland and Romania. The company also runs three R&D sites (Germany, Austria and Finland) and four regional sales offices (Germany, UK, Finland and Austria). The company produces around 350,000 tonnes/year in volume and employs over 320 people.

The melamines & paraform business is currently a part of the Ineos Enterprises portfolio.

The consideration for the transaction was not provided. It is expected that the transaction will complete within Q2 this year subject to regulatory approval.

(PRA)


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