Australia-based manufacturing services company Aldus has acquired foil manufacturer API Foils Europe, excluding Asian and Dutch subsidiaries. The acquisition will result in new company API Foilmakers.
API Foilmakers will be headed by former API Foils managing director Will Oldham.
Oldham said: “I am delighted to be back leading the API’s European Foil business which has been at the forefront of quality graphic stamping foils for many years. Joining the Aldus Group will give our team the financial strength and support to ensure the we can continue to deliver the highest quality product to our customers across Europe and the world.”
Aldus CEO Frank Floriano said: “API has long been viewed as a market leader in high-quality foils and we were very pleased to acquire the business. We are committed to provide additional capital and support to ensure that API will continue to supply its existing customers and invest in the development of market-leading products.”
API Foils was set to liquidate last month after “experiencing difficulties” including changes in tobacco packaging regulations and customer loss, according to administrators Ernst and Young. The company made 155 employees redundant across UK locations in Manchester, West Lothian, Cheshire and Yorkshire.
The company’s Scottish production facility in Livingston was closed at the end of January but is now set to be re-opened.
API group commercial director Mark Gilbert said: “We are delighted to be back in business and I would like to thank our customers for supporting all of our teams across our sites over the last few weeks and also those that helped us during the acquisition process. This support has just confirmed to us that this is a special business.
“We are looking to get back to normal production in Livingston as soon as possible, but it will take some time until we can offer a full range of products from manufacture. We will communicate every step with our customers in all markets and work with them to mitigate any further disruption than is necessary.”
Oldham said: “We are particularly pleased to be restarting the Scottish manufacturing facility and ensuring the continuing operation of our distribution hubs across Europe, delivering 160 jobs, including more than 100 in Scotland.”
Livingston MP Hannah Bardell on Twitter said: “Delighted to hear that API Foils in Livingston has been bought by major global packaging business Aldus. It’s great news for the employees, their families, and our local area, which has a long and very proud tradition of manufacturing.”
Twitter user Matt Doogue replied to Bardell saying: “Let’s hope us former employees get a chance for our jobs back.” Bardell said that she has asked that the union is fully engaged with throughout the process.