— By Plasteurope.com staff — 

Taking its first step into the European market, US film manufacturer Inteplast (Livingston, New Jersey; www.inteplast.com) said it is acquiring its smaller competitor Perga (Walldürn, Germany; www.perga.com) from investment firm Serafin (Munich, Germany; www.serafin-gruppe.de). Financial details of the transaction were not disclosed.

Once the purchase is complete, Perga’s production facility at Walldürn will be Inteplast’s sixth plant within its Engineered Films division. According to MD Fabian Wilhelms, Perga produces monomaterial and coextruded films as well as Pergafilm- and Allfolin-branded packaging, primarily based on HDPE and LDPE.

Serafin most recently reported sales of EUR 60 mn for Perga, generated by around 200 employees. The company recycles its own production waste, both selling the recovered materials and integrating them back into its production.

The German investment firm was recently in talks regarding the insolvency of compatriot filament manufacturer Perlon (Munderkingen; www.perlon.com). Its portfolio also includes sheet manufacturer Exolon (Munich; www.exolongroup.com).

Related: Sheet producer Exolon acquires polycarbonate sheet business from Corplex

Inteplast is significantly larger, with sales most recently at USD 3.45 bn (EUR 3 bn) and around 8,000 employees at 55 plants and branches. In addition to plastic bags and carrier bags, Inteplast manufactures PET containers, PVC sheets, paper packaging, and medical products.

According to a company spokesperson, the company's film segment generated a revenue of USD 2.24 bn, with biaxially oriented polypropylene (BOPP) films accounting for around USD 500 mn of that. The sheets unit posted a turnover of USD 1.21 bn.

US sources describe Inteplast, led by John Young, as the North American market leader in this sector, with a market share of more than 30% in biaxially oriented polypropylene (BOPP) films. The capacity for BOPP films is estimated by Hong Kong-based consulting firm PW Consulting at around 220,000 t/y. Despite worldwide expansions in this area, its global market is estimated to be at around 1.5% – likely enough to place it at the lower end among the top 10 largest manufacturers.