Speciality film products company Transilwrap has agreed to acquire a speciality films business from US-based Dow Chemical for an undisclosed amount.
The acquisition includes the business' manufacturing plants in Hebron, Ohio, and Drusenheim, France.
Dow's speciality films business provides solutions for medical, packaging and industrial markets.
Its products include Saranex barrier, Procite and Opticite films for use in beverage closure liners, ostomy appliances, window envelope films, labels and protective fabrics.
Transilwrap CEO and president Andy Brewer said: "Dow's film technologies, market focus and geographic presence support accelerated growth and global expansion in Transilwrap's strategic market segments including healthcare and packaging.
"Dow's speciality films business is well regarded in the industry for strong technical expertise and globally recognised brands associated with quality, reliability and leadership and we look forward to working with their existing management team to drive new business opportunities forward."
The deal is subject to consultation by the French Works Council, as well as regulatory filings and local employment law and governance obligations in Europe.
It is expected to be completed by the second quarter of 2016.
Dow's speciality films business global business director Spyro Petsalis said: "Transilwrap's complementary products, capabilities and extensive geographic footprint will allow us to offer customers additional solutions with an enhanced service platform, while renewed investment and focus will allow for continued innovation to fuel future growth."
Last year, Transilwrap acquired active and protective packaging systems distributor Ellis Industrial Packaging.
This acquisition expanded the anti-corrosion and protective packaging product range of Transilwrap's MetPro business unit.
Image: Dow Chemical headquarters in Midland, Michigan, US. Photo: courtesy of [email protected] / Wikipedia.