NEWS IN BRIEF

Tekni-Plex enhances packaging capabilities with tenth acquisition

15-Nov-2018 - Last updated on 15-Nov-2018 at 14:28 GMT

(Image: Getty/Artisteer)

Related tags Tekni-Plex Beyers Plastics

The US company said the acquisition was in line with its 'strategy to grow its business through transformative acquisitions and strategic add-ons.'

The deal sees Tekni-Plex acquire Beyers Plastics, a Belgian company, which produces polyethylene (PE) packaging for the pharmaceutical and medical industries

Beyers Plastics extrudes PE film in a cleanroom 7 environment, offering films based on pharma grade resins.

The firm also produces packaging for the food, aerospace and chemicals industries, among others, but Tekni-Films stated the focus of its integration would be its pharma and medical industries.

“The acquisition of Beyers Plastics allows us to expand our portfolio of cleanroom-produced pharmaceutical and medical flexible packaging products.

For the first time, we will have bag converting capability, as well as PE blown film extrusion,” explained Joe Horn, senior vice president and general manager, global, of Tekni-Films – the parent company of Tekni-Plex.

Tekni-Plex noted that the acquisition is its 10^th in the last four years, stating that it has a “solid track of successful business integrations.”

The financial details of the deal were not disclosed and Tekni-Plex did not respond to a request for comment.