UK-based AkzoNobel Packaging Coatings has announced plans to sell its Pure-Flex flexible packaging adhesives and ink media business to Polytech International for an undisclosed value.
According to the company, its flexible packaging adhesives business provides solvent-based, solvent-free and water-based laminating adhesive.
The business also specializes in ink media technologies for the flexible packaging film converting industry in Europe as well as South Africa.
The acquisition will enable Polytech to expand its business portfolio into the food and industrial flexible packaging market.
AkzoNobel Packaging Coatings BU managing director AB Ghosh said the company decided that its Flex-pack adhesives business no longer fits within its product portfolio after conducting a strategy review.
"We are pleased that we have found a respected company to take over the business. This agreement is a good outcome for all stakeholders," Ghosh added.
MRi-Polytech group CEO Mark Dunkinson said the expertise of the transferring employees is renowned in the market place and the product portfolio is outstanding.
"We have strong synergies with our in-house capabilities and we look forward to being able to work with the transferring customers to build further on the existing relationship with the Business," Dunkinson added.
The MRi-Polytech group comprises Polytech International and Quietstone UK.
