Scholle has announced the sale of its Vacumet Plastics Division in Austell, Georgia to Indian Polyester film producer Polyplex’s US subsidiary, as part of an agreement.
The acquisition, which is expected to close in July 2012, is set to expand Polyplex's metallized product range to include all plastic substrates and will also enable the company to serve various packaging needs of its customers by providing them with a broad product portfolio.
According to Polyplex US, the acquisition fits into the company's global growth strategy. As part of its strategy, the company will construct a resin manufacturing plant in Decatur, Alabama, invest in a thick film PET plant in Thailand and a bottle-grade resin plant in Turkey.
Vacumet Plastics, which supplies metallized plastic film for consumer products and packaging components, has a production capacity of over 30 million pounds of film annually. The sale is in-line with Scholle's strategy to concentrate on augmenting its core performance packaging solutions business.
Scholle's packaging solutions include flexibles, bag-in-box packaging, aseptic processing, filling technology, dispensing solutions and other emergent packaging offerings.
