Rexam plc nearly is finished with its major restructuring through the sale of its South Hadley, Mass.-based Rexam Image Products.
Sun Capital, a private investment firm in Boca Raton, Fla., is paying $60 million for the acquisition, a Rexam news release said. The deal includes six plants that coat and laminate imaging film and paper: South Hadley; Matthews, N.C.; Spartanburg, S.C.; Portland, Ore.; Wrexham, Wales; and Runcorn, England.
A weatherable films plant in Lancaster, S.C., is not included in the deal. Rexam Image Products reported 2001 sales of £154 million ($225 million) and employs about 1,300.