By: EUROPEAN PLASTICS NEWS
June 4, 2013
Treofan Group, a global manufacturer of biaxially oriented polypropylene films, says it is no longer going to acquire India's Max Specialty Films, a subsidiary of New Delhi-based Max India Ltd., after both parties agreed to call of negotiations.
Peter Vanacker, CEO of the Raunheim, Germany-based company, says Treofan is currently focused on "successfully restructuring and profitably growing our core businesses in Europe and the Americas."
Max India will instead transfer the Max Specialty Film division into a separate subsidiary.