Private equity firm Genstar Capital (San Francisco, California / USA; www.gencap.com) has announced its takeover of packaging, medical tubing and compounds specialist Tekni-Plex (Wayne, Pennsylvania / USA; www.tekni-plex.com) – see Plasteurope.com of 08.09.2017. Tekni-Plex CEO Paul Young and CFO Glenn Fish expect to "to aggressively grow" the business through acquisitions and add-ons, with support of the new owner to build on existing business areas as well as enter adjacent markets. According to US media reports, the company's current revenue is estimated to be approximately USD 800m (EUR 680m).

In 2015, Tekni-Plex – at the time owned by American Securities (New York; www.american-securities.com) – acquired the films business of Gallazzi (Minerbo, Bologna / Italy) – see Plasteurope.com of 15.05.2015.

Recently, Tekni-Plex held an opening ceremony at its manufacturing facility in Suzhou, Jiangsu / China, which has started production of medical tubing – see Plasteurope.com of 31.08.2017. More than 60 representatives from pharmaceutical and medical device companies and 40 government officials attended the celebration.