M&As: Resonac sells packaging materials affiliate to Dai Nippon; Trelleborg acquires US firm CRC Distribution
Japan’s Resonac Corporation says it has transferred all shares in Resonac Packaging Corporation, a wholly-owned subsidiary engaged in the business of secondary battery packaging materials and food packaging materials, to Dai Nippon Printing Co Ltd. Terms were not disclosed.
The company has been engaged in the business of manufacturing and selling products related to packaging materials for secondary batteries, as well as food packaging materials and food containers.
Resonac adds it is continuously reviewing its business portfolio to pursue sustainable growth, hence the sale of the firm.
In other news, Sweden’s Trelleborg Sealing Solutions says it has finalised the acquisition of CRC Distribution, a distributor of polymer seals and services for hydraulics, hydropower, oil and gas and fluid power applications located in Robertsdale, Alabama, US. Terms were not disclosed.
The CRC acquisition follows a series of successful acquisitions for Trelleborg Sealing Solutions in the US including VB Seal in 2021, Carolina Seal and Anderson Seal in 2017, Lutz Sales in 2012 and AFM in 2011.
CRC has a strong customer base in the US and Canada where Trelleborg Sealing Solutions aims to continually grow market share. Fluid power technology for the off-highway market is a specialty of CRC and provides synergies that enable Trelleborg to meet the needs of customers in the industry.
Heather Castleman, Business Unit President Industrial Americas, says: “CRC serves small hydraulic cylinder original equipment manufacturers (OEMs) and maintenance repair operations (MROs). Historically, we’ve used distributors to address these market needs. Now we can directly serve these hydraulic cylinder OEM and MRO customers ourselves.”
Since 2021, CRC has been an exclusive distributor of Trelleborg seals in the southern and western US and for Orkot products across the US and Canada. The company stocks hydraulic seals for mobile and industrial applications and offers engineering support to design custom seals up to 100 inches/2,540 mm.
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