Klöckner offers update on global expansion

EUROPEAN PLASTICS NEWS

Published: September 10, 2013 3:00 pm ET
Updated: September 10, 2013 3:02 pm ET

Related to this story

Topics Mergers & Acquisitions, Calendering, Extrusion
Companies & Associations Klöckner-Pentaplast of America Inc.

Global films producer Klöckner Pentaplast Group is offering an update on its plans to expand worldwide in 2013 and 2014.

The company recently announced that it is investing 45.6 million euros ($60 million) to boost capacity in Europe, China and Brazil.

A new line at its Newport, England, site, will increase polyester film capacity by 8,000 metric tons and add 15 new employees. Total investment is 6 million euros. In Portugal, Klöckner is investing 5.5 million euros to also add 8,000 metric tons of polyester capacity.

The remaining money is being invested in China, where shrink film capacity will go up by 6,600 metric tons, and Brazil, where the firm is investing in 1,200 metric tons of additional coating and laminating capacity.

The announcement comes only weeks after Bloomberg News reported that Strategic Value Partners Investment Group — the U.S.-based firm that bought Klockner Pentaplast last year — is working with financiers Goldman Sachs Group and Jefferies Group to find a buyer for the firm.

Klöckner Pentaplas had announced plans for investments in China, Brazil and Portugal in November 2012 — less than four months after SVP had purchased the company.

Klöckner Pentaplast is based in Montabaur, Germany, and employs more than 3,000 at 17 plants worldwide.


Comments

Klöckner offers update on global expansion

EUROPEAN PLASTICS NEWS

Published: September 10, 2013 3:00 pm ET
Updated: September 10, 2013 3:02 pm ET

Post Your Comments


Back to story


More stories

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Vinyl records refuse to fade out

November 18, 2014 3:37 pm ET

The recording industry is taking vinyl for a spin. Again. Twenty-five years ago when Plastics News was ramping up printing presses, record presses...    More

Image

Private equity fuels acquisition market

November 18, 2014 11:52 am ET

Plastics firms and outside investors with money to spend increasingly have done so in the plastics industry for the last quarter-century — and...    More

Image

Film manufacturers pushing, again, for non-resin price increases

November 17, 2014 2:57 pm ET

UPDATED — For the third time this year, major polyethylene film makers are seeking non-resin price increases for their products.For the third ti...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events