In a deal the financial details of which were not disclosed, Transilwrap (Franklin Park, Illinois / USA; www.transilwrap.com) has signed a letter of intent to acquire the Specialty Films business of Dow Chemical (Midland, Michigan / USA; www.dow.com). Pending the approval of the French Works Council and the regulatory authorities in Europe, the deal is expected to close by the end of Q2 this year.

Dow Specialty Films operates plants in Hebron, Ohio / USA and Drusenheim / France, specialising in the production of blow-oriented PS films as well as co-extruded multilayer barrier and polyolefin films for medical, packaging and industrial applications. The business is considered to be the leading global producer of medical films for ostomy bags. Its packaging portfolio – which includes the “Saranex” family of barrier films, “Proctite” window envelope films and “Opticite” label films – is used in applications ranging from beverage closure liners to protective fabrics.

For Transilwrap, which was acquired by private equity group The Jordan Company (New York / USA; www.thejordancompany.com) in late 2013, the purchase represents “a meaningful acquisition” that “supports accelerated growth and global expansion in Transilwrap’s strategic market segments,” including healthcare and packaging. Under the deal, the facilities and employees will continue to operate as today.

Dow is currently in the process of merging with another industry giant, DuPont (for most recent coverage, see Plasteurope.com of 23.02.2016). It is unclear whether the sale has anything to do with the mega-merger, due to be completed this year.

Transilwrap specialises in the production, conversion and distribution of speciality films products, catering to a variety of end markets, including packaging, industrial, security ID, healthcare and display advertising. The company operates 10 plants in North America as well as three in Europe.