Tekni-Plex has completed the acquisition of three manufacturing facilities from Amcor’s Flexible Packaging business unit.
The facilities—located in Madison and Milwaukee, Wisconsin and Ashland, Massachusetts— provide a broad portfolio of sterilizable 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 have been supplied by our Colorite, Natvar and Dunn medical products businesses for decades,” said Paul Young, president and chief executive officer, 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.
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“Genstar is excited to be sponsoring Tekni-Plex’s acquisition of the Amcor plants, as we continue to focus efforts on expanding our healthcare-related packaging capabilities,” said David Golde, managing director, Genstar Capital.
Date: June 24, 2019
Source: Yahoo Finance
