OpSec Security has started negotiations to acquire the security business of API Holographics, which primarily serves the UK market.
API Group plans to complete the divestment process by April, after consulting with the employees, customers and partners related to the business.
OpSec Security CEO Richard Cremona said that API's security holographics division will enhance the firm's capabilities in the manufacturing of foils and laminates.
API Group will maintain its packaging enhancement business.
API Group president and CEO Dino Kiriakopoulos said: "This transaction will support API Group's strategy for delivering world class brand enhancement solutions to brand owners and the packaging market, our core business segment."
API produces and distributes foils, films and laminates, which will enhance the visual appeal of products and packaging, helping customers communicate brand values and authenticity.
The company provides materials and solutions, which can be used in different applications, including consumer packaging, printed media and secure documents.
API's films, foils, films and laminates are used to add metallic and holographic finishes, as well as effects to labels, cartons, containers and closures for brands in different sectors such as alcoholic drinks, confectionary, tobacco, perfumery, cosmetics and healthcare.
Image: OpSec Security has started discussions to acquire security business of API Holographics. Photo: courtesy of API GROUP.
