Packaging materials developer Tekni-Plex is expanding its Tekni-Films operations in Italy via an acquisition.
The company acquired the self-adhesive tape substrate operations of Alfatherm SpA of Venegono Superiore (VA), Italy.
The acquired operations will be integrated into Tekni-Films Gallazzi’s existing operations in Gallarate, Italy.
Tekni-Films senior vice president and general manager Joseph Horn said: "The acquisition will help support Tekni-Films's growing tape substrate business. We will be able to better serve converters across Europe who produce self-adhesive tapes for a wide variety of packaging applications."
Alfatherm, the Italian company was established in 1963 in Venegono Superiore. It manufactures rigid, semirigid and plasticised PVC foils. The company has three factories in Varese region, where 40,000 tons of plastic foils are churned out every year.
These plastic foils are used in a wide range of applications including furniture, food packaging, stationery, shrink labels (sleeves), wine cups, adhesive labels, advertising printed foils and adhesive tapes.
Plastic News quoted Alfatherm CEO Marino Uberti as saying: “The divestiture of the adhesive tape substrate business is part of a broader strategic review. We will focus our growth on Alfatherm’s core sectors such as surface decoration, capsules and sleeves and films for the graphic art segment.”
In May this year, Tekni-Plex acquired the assets of Doral, Florida-based BrunaSeals for an undisclosed amount.
BrunaSeals is a maker of induction seals and foam closure liners for beverage, cosmetics, pharma and household and industrial chemical products. Tekni-Plex said that BrunaSeals will be integrated with its subsidiary Tri-Seal.
Tekni-Plex recently said that it will invest $15m in a new manufacturing facility to be located in Suzhou, China. The company stated that this is one of the significant investments it will be making in the recent times.
The Chinese facility will manufacture medical device products and packaging at the facility. The investment is also part of its strategy to tap into the vast market in Asia-Pacific, particularly in the pharmaceutical and medical device market.
