TEKNI-PLEX
Acquisition of three Amcor medical packaging plants in US / Deal to resolve US anti-trust concerns with proposed Amcor-Bemis merger
US plastic packaging manufacturer Tekni-Plex (Wayne, Pennsylvania; www.tekni-plex.com) has agreed to buy three of Amcor’s (Hawthorn / Australia; www.amcor.com) production plants in the US for USD 215m. The facilities, part of Amcor’s Flexible Packaging business, are located in Madison and Milwaukee in Wisconsin and Ashland, Massachusetts. Combined, the three operations generate annual sales of around USD 100m. Completion of the transaction is expected on 15 May 2019.

The deal is conditional upon approval from the US Department of Justice (Washington, D.C.; www.justice.gov), which had concerns associated with the proposed combination of Bemis (Neenah, Wisconsin / USA; www.bemis.com) and Amcor – see Plasteurope.com of 07.08.2018. The binding agreement with Tekni-Plex is an action to resolve these concerns. The merger of Amcor and Bemis was cleared by the European Commission in February 2019 – see Plasteurope.com of 13.02.2019 – and Brazilian authorities earlier in April.

Paul Young, president and CEO of Tekni-Plex, said the acquisition – his company’s 11th in the past five years – expands its portfolio of complex packaging products for medical device manufacturers. The plants produce a range of sterilisable medical packaging substrates including coated and uncoated “Tyvek” (HDPE fibres), heat- and cold-seal coated paper and films, medical grade laminates as well as die-cut lids and labels.
29.04.2019 Plasteurope.com [242338-0]
Published on 29.04.2019

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