Inteplast buys Pitt Plastics

By Frank Antosiewicz
Correspondent

Published: September 14, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Packaging, Film & Sheet

LIVINGSTON, N.J. (Sept. 14, 1:45 p.m. ET) — Inteplast Group is expanding its commercial can-liner footprint in North America with the purchase of Pitt Plastics Inc. of Pittsburg, Kan.

Pitt will become part of Inteplast’s Integrated Bagging Systems Division. The acquisition includes Pitt’s facilities in Kansas; Morrow, Ga.; and Columbus, Ohio. Financial terms were not disclosed.

“With this acquisition, the combined organizations will be the most complete bag producer in the marketplace. We see this as an investment in people and technology,” Inteplast IBS Division President Joe Chen said in a news release.

Inteplast President John Young said Pitt’s products complement IBS can-liner offerings and geographical locations. IBS currently has can-liner plants in Lolita and Garland, Texas; and Prattville, Ala.

Pitt will continue full operations to serve the North American market, according to Inteplast.

Inteplast does an estimated $1.5 billion in North American film and sheet sales, according to Plastics News estimates. Pitt pegs its 2011 polyethylene can-liner and bag sales at $154 million and its total number of employees at 447.

 “As manufacturing technology continues to evolve, we are excited to have the technological resources and distribution channels of Inteplast working with us,” said Pitt President Jeff Poe.

Inteplast operates 33 plants and 10 warehouse facilities throughout North America. It was founded in 1991 and operates two other divisions besides IBS: AmTopp, which produces biaxially oriented polypropylene films, stretch wrap films and plastic concentrates and compounds; and World-Pak, which makes corrugated plastic sheet, solid and expanded PVC sheet, heavy-duty films and bags, and synthetic wood.

Based in Livingston, N.J., Inteplast operates a major manufacturing complex in Lolita covering 535 acres. The combined capacity of that site exceeds 1 billion pounds of finished goods annually, according to Inteplast.

Young said he hopes to continue the legacy started by Gene Bicknell, his son Marty, and their families in the building of Pitt Plastics. Both companies share “humble roots,” he said.

“We are also excited to have found a partner that shares our commitment to ensuring quality manufacturing jobs for American workers,” Young said.

In August, Inteplast acquired the Minigrip resealable PE bag business of Illinois Tool Works Inc.

Minigrip, based in Kennesaw, Ga., makes bags for consumer and commercial uses, including for the food-service, medical and institutional markets.


Comments

Inteplast buys Pitt Plastics

By Frank Antosiewicz
Correspondent

Published: September 14, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Almost half of mid-market firms say they are looking to buy competitors

March 2, 2015 3:52 pm ET

There are steps that plastics business owners can take to keep the mergers and acquisitions parade rolling into 2015.    More

Image

P&G adding label to help guide consumers in recycling

March 2, 2015 3:29 pm ET

Procter & Gamble Co. will help prompt consumers to recycle rigid packaging by joining the Sustainable Packaging Coalition's How2Recycle Label program.    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events