M&As: Radici acquires Lamiflex; Indorama takes over Trevira; Amcor buys Latin American container firm

Following the preliminary agreement reached on April 13, 2017, Itema SpA (part of Italian materials maker Radici Group) has acquired 61% of the shares in Lamiflex SpA, thus becoming the majority shareholder in a supplier of composite materials and products for industries ranging from textile machinery, medical, airspace and other industrial applications.

Radici added that the technological capabilities of Lamiflex in the composites sector, matched with Itema’s strong know-how matured over many decades as a leading supplier of advanced weaving machinery industry, will be enhanced by the materials chemistry of Radici Group.

The takeover is part of the wider strategy of Itema’s shareholders, namely the Radici family (Angelo, Maurizio, Paolo, Bruna e Maria Grazia) with 60% of shares and the Arizzi e Torri families with the remaining 40%, to maximise the return from investments in locally based, multinational companies, according to Radici.

“With over forty years’ experience in the sector, a EUR25 million turnover in 2016 and continuous growth that solidly placed us among the leaders in the composites materials business,” stated Luigina Bernini, President of Lamiflex.

The move is set to create significant synergies along the supply chains in which Itema, Lamiflex and Radici Group companies operate and to grow not only in the textile machinery sector, but also to expand into new sectors, such as composites,.

Meanwhile, Thailand-based Indorama Ventures Public Company Limited (IVL) has, through its indirect subsidiary Indorama Netherlands BV (INBV), signed a definitive share purchase agreement with its Italian joint venture partner Sinterama SpA thereby acquiring its 25% stake in Trevira Holdings in Germany.

With this acquisition, IVL will hold 100% of Trevira. IVL had acquired 75% of Trevira in July 2011.

Trevira specialises in speciality polyester fibres globally. The 100% ownership will provide incremental synergies within the IVL Group, said the company.

The value of the acquisition, in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, is less than 15% and the total size of transactions in the past six months is also less than 15%.

In other news, Australian packaging giant Amcor’s US subsidiary, Amcor Rigid Plastics, has expanded its speciality container business in Latin America with the acquisition of Colombia’s Plasticos Team SAS from Team Foods Colombia SA, a leading food producer in Colombia.

Plasticos Team is a producer and distributor of preforms, bottles, thin-wall containers, and closures.

This acquisition broadens Amcor’s technology in the region and strengthens its position as a global supplier of rigid plastic containers. The deal includes one stand-alone facility located in Guachene, Colombia.

“The Latin America market continues to be an important growth area for us,” said Mike Schmitt, Amcor Rigid Plastics President. “The acquisition of Plasticos Team is important since it validates the roles of both a packaging converter and a consumer goods company working together to supply innovative products to consumers in the region.”

Team Foods Colombia SA has signed a long-term agreement with Amcor for the supply of rigid plastic containers.

Amcor operates three additional rigid packaging plants and one flexible packaging plant in Colombia serving customers in the beverage, food, home, and personal care segments.

(PRA)