Multi-Plastics buying two plants from Reynolds Packaging Kama

HAZLETON, PA. (Oct. 26, 4:15 p.m. ET) -- Lewis Center, Ohio-based Multi-Plastics Inc. is in “advanced negotiations” to buy plants in Hazleton, Pa., and Avenel, N.J., from its long-time partner Reynolds Packaging Kama.

Reynolds Packaging Kama is looking to exit the envelope window films market. Reynolds and Multi-Plastics have been partners for more than 30 years, with Multi-Plastics providing slitting and distribution for envelope window films that Kama has extruded.

Paul Hinspeter, vice president of sheet and film for Hazleton-based Reynolds Packaging Kama, declined to discuss details about the potential deal or the manufacturing plants until after closing, which the companies expect to happen on Oct. 30.

After the sale, with the exception of the envelope window film, Reynolds Packaging Group will continue with its present product offerings from four North American locations.

Reynolds Packaging Kama is a subsidiary of Auckland, New Zealand-based Rank Group, and is a leading provider of oriented polystyrene, high impact PS, polypropylene, high density polyethylene, and PET sheet to the thermoforming and graphic arts industries.

(You need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Fields marked with * are required.