Tekni-Plex buys Ohio-based liner manufacturer
Resource from: Plastics News Likes:212
Mar 22,2016
Packaging company Tekni-Plex Inc. is moving even deeper into the liner business with an agreement to acquire Sancap Liner Technology Inc.
Sancap, of Alliance, Ohio, makes heat-seal, pressure sensitive and gasket-sealing liners for the pharmaceutical and food industries.
The acquisition, the third liner deal for Tekni-Plex in 18 months, should be finalized next month, Tekni-Plex said.
“We are in the liner space and it allows us to continue our effort to be a significant global supplier in that space,” said David Andrulonis, senior vice president and general manager of Tekni-Plex. “It’s an effort to become a bigger player.
“It’s exciting for us to increase our presence, mainly in the induction seal and pressure sensitive liner space. They do some neat things ... some very unique coating technology,” he said.
Sale of Sancap comes less than a year after company owner Robert Stuhlmiller died in a single-engine plane crash near Beloit, Ohio. He was the only passenger in the June 2015 accident, according to the National Transportation Safety Board.
While Andrulonis declined to reveal exactly how the deal came together, he did note that people at Tekni-Plex had a relationship and knew Stuhlmiller for many years.
Tekni-Plex previously acquired Tech-Seal Products Inc., a maker of closure liners and inner seals in Triadelphia, W.Va., near Wheeling, in 2014.
The Wayne, Pa.-based company then acquired Ghiya Extrusions Private Ltd., an Ahmedabad, India, maker of foam closure liners, in 2015.
Along with liners, Sancap also makes high-barrier Saran laminations and coated pouch/bag structures for food, liquor, confection and chemical applications, Tekni-Plex said.
Sancap has 460,000 square feet of space and room to grow within that area.
“It’s a huge facility. It was a factory that started back in the ‘60s that originally was built for building airplanes. It’s a huge space. It’s an opportunity to realign the business and make it an even more efficient layout,” Andrulonis said. “We’re going to be making some investments in more efficient equipment.”
Current employment is at about 50, and the senior vice president does not expect that to change under new ownership. Tekni-Plex anticipates the deal closing in April.
Along with liners, Tekni-Plex also makes tubing and medical polymers. The company operates 24 sites in eight countries in North America, Europe and Asia.
(Plastics News)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous Zero-Max Load Adaptors Connect Pump Impellers in Underwater Applications
Next Aug 17 Bearing Steel Price in Different Regions of China
Next Aug 17 Bearing Steel Price in Different Regions of China
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
