Polyester film producer Polyplex has agreed to acquire all assets of Scholle's Vacumet Plastics division in Austell, Georgia, US, for an undisclosed amount.
The acquisition is set to expand Polyplex's metallised product range to include all plastic substrates and enable the company to offer a varied packaging range and product portfolio to its customers in the region.
According to Polyplex US, the acquisition fits into the company's global growth strategy, which includes the construction of a resin manufacturing plant in Decatur, Alabama, a thick film PET plant in Thailand and a bottle-grade resin plant in Turkey.
Vacumet Plastics, which supplies metallised plastic film for consumer products and packaging components, has an annual production capacity of over 30 million pounds of film.
Scholle's sale of the division is said to be in line with the company's strategy to concentrate on augmenting its core performance packaging solutions business.
The company concentrates on flexibles, bag-in-box packaging, aseptic processing, filling technology, dispensing solutions and other emergent packaging offerings.
The acquisition is scheduled for completion in July 2012.
Image: Scholle's sale of its Vacumet Plastics division is in line in with its strategy to focus on augmenting its packaging business. Photo: Scholle