DÜSSELDORF, GERMANY (Dec. 11, 2:25 p.m. EST) — The former Foilmark Inc. is restructuring after a recent sale to Illinois Tool Works Inc.
Foilmark, based in Newburyport, Mass., had increased its focus on plastics in 1999, when it formed the Foilmark-Transfer Print Foils unit in East Brunswick, N.J. The unit makes hot-stamping foils and transfer-print foils for such areas as picture frames and vertical blinds.
After the ITW deal was completed in May, the unit began restructuring to add products and broaden its market focus, said Allen Behrle, sales manager for the new Printed Products division of ITW Foils.
Behrle, interviewed Oct. 24 at K 2001 in Dusseldorf, said the acquisition brings the company more financial resources and muscle to compete in the global foils market. The company develops applications and markets for hot-stamping foil products, he said.
“It gives them an opportunity to restructure our development direction,” Behrle said. “We have plans to grow.”
That growth was more limited with Foilmark, which recorded sales of $65 million last year, Behrle said. The company also makes holographic security and packaging products and pad-printing machines.
Glenview, Ill.-based ITW, in contrast, has 600 operations in 43 countries. The New Jersey facility will continue as the headquarters for its printed products operations, primarily the hot-stamping foil lines.