Teledyne Packaging of Chester, Pa., a leading U.S. producer of plastic laminate and metal collapsible tubes, has acquired Envases Commerciales SA, a Costa Rican molder of tubes and plastic containers. Terms of the deal have not been released, but the U.S. firm's parent, electronic products and specialty metals manufacturer Teledyne Inc. of Los Angeles, said it will integrate the Costa Rican operation into its packaging subsidiary.
Envases Comerciales, with one plant in the Costa Rican capital of San Jose, is one of the nation's three leading plastic bottle blow molders.
It was founded 30 years ago by Swiss-born industrialist Richard O. Custer, who formed a number of trading and distribution companies in South America in the early 1900s.
Traditionally producing a range of polyethylene and PVC bottles and serving markets including the water and cooking oil industries, Envases Comerciales acquired its first PET one-stage blow molding machine several months ago.
Envases Comerciales also manufactures aluminum tubes and laminated PE tubes for toothpaste, and serves multinational pharmaceutical, food and personal-care companies in Central America and Mexico.
``The businesses of Envases Comerciales and Teledyne Packaging are incredibly synergistic. They manufacture similar products, they have similar customers and Envases is in Latin America,'' a spokesman for Teledyne Inc. said.
Teledyne Packaging President Kenneth Donahue said in a statement about the deal: ``This is a sound strategic transaction for Teledyne Packaging. Envases Comerciales has an enviable reputation, and its acquisition will allow us to increase our presence in the increasingly important Latin American market.''
Teledyne Packaging claims to be North America's oldest maker of collapsible metal tubes after taking over A.H. Wirz Inc.
Today Teledyne Packaging buys preprinted foil or plastic laminated webstock with an average of seven layers to form into tubes.
It injection molds plastic tube ``shoulders'' and caps and assembles the laminate tubes. Teledyne Packaging operates plants at Chester; Swedesboro, N.J.; Carrollton, Ky.; and in Puerto Rico.