The acquisition of Vacumet Plastics expands Polyplex's metallized product range to include all plastic substrates which, along with existing research and development efforts, will result in products that the company can offer to its North American customer base.
Global growth strategy
Polyplex said the acquisition is in-line with its global growth strategy that includes construction of a resin manufacturing plant in Alabama, investment in a thick film PET plant in Thailand and a bottle-grade resin plant in Turkey.
Scholle said the sale of the segment is consistent with its focus on growing its core performance packaging solutions business including flexibles, bag-in-box packaging, aseptic processing, filling technology and dispensing solutions.
Polyplex is a producer of thin polyester film and as well as higher-end coated speciality film used primarily for food packaging.
Expanded product portfolio
Amit Kalra, vice president of Polyplex's North American division, said: "This acquisition will make Polyplex an all-in supplier serving all the packaging needs of our customers by providing them with an expanded product portfolio and giving them increased value through horizontal and vertical integration."
Scholle Corporation produce bag-in-box packaging for the food and beverage markets with manufacturing locations on five continents and products sold in more than 60 countries.
Vacumet Plastics has an annual production capacity of more than 30 million pounds of film and supplies metallized plastic film for consumer products and packaging components.
Kent Kisselle, Vacumet's director of market segments, said: "Adding Vacumet's robust process capability and intimate market understanding to Polyplex's emerging North American footprint creates a powerful value proposition."
The deal for Scholle’s Vacumet Plastics Division is expected to be completed next month for an undisclosed amount.
