Tekni-Plex, Inc. has signed an agreement to acquire Sancap Liner Technology, Inc., Alliance, Ohio. Sancap is a leading producer of heat-seal, pressure-sensitive and gasket-sealing liners for pharmaceutical and food applications. The transaction is expected to close in April.
"Sancap's heat-seal liner production capability makes this an ideal strategic acquisition for Tekni-Plex. Coupled with our existing strong technology base in foam liners, this will enable us to serve our global customers with an even broader product line. We look forward to building upon the reputation established by Sancap's late founder, Robert Stuhlmiller," said David Andrulonis, senior vice president/general manager, Tekni-Plex.
In addition to liners, Sancap also produces higher-barrier, Saran® laminations and coated pouch/bag structures for food, liquor, confection and chemical applications.
"Sancap's 460,000 square foot facility also provides a footprint from which to increase future manufacturing capacity. This will enable Tekni-Plex to accommodate increasing global demand for our products," Andrulonis said.
When the transaction closes, Sancap will be the third liner business Tekni-Plex has acquired in the last 18 months. The two previous acquisitions were Ghiya Extrusions, Ahmedabad, India and Tech-Seal, Triadelphia, W.V.
Source : finance.yahoo.com