AkzoNobel to sell flexible packaging adhesives business
AkzoNobel Packaging Coatings is set to sell its flexible packaging adhesives and ink media business to Polytech International.
AkzoNobel Packaging Coatings is set to sell its flexible packaging adhesives and ink media business to Polytech International.
The company's Pure-Flex business specialises in solvent-based, solvent-free and water-based laminating adhesive and ink media technologies for the European and South African packaging film converting industries.
AkzoNobel BU managing director AB Ghosh said the agreement is a good outcome for all stakeholders.
"The acquisition is set to expand Polytech's business portfolio into the food and flexible packaging market."
"Following a strategy review, it has been decided the flex-pack adhesives business no longer fits within our product portfolio. Transferring adhesives and ink media activities to a new owner is the best way forward for the business," Ghosh said.
According to AkzoNobel, Polytech has operated as a toll manufacturer for Pure-Flex for many years, and is familiar with the portfolio and business.
The company's association with the business is expected to ensure a smooth transition for customers.
The acquisition is set to expand Polytech's business portfolio into the food and flexible packaging market, while creating a platform for further growth.
MRi-Polytech group CEO Mark Dunkinson said: "The expertise of the transferring employees is renowned in the market place and the product portfolio is outstanding."
The MRi-Polytech group includes Polytech International and Quietstone UK.