Film producer AEP Industries Inc. may sell its operations in Australia and New Zealand after eight years of ownership, and has divested its holdings in France.
The South Hackensack, N.J.-based company has hired an undisclosed global investment bank to pursue buyers, AEP said in a news release.
The facilities that might be sold include two flexible packaging plants with customers in the Asia-Pacific region. The plants make industrial films, PVC film and printed and converted films, bags and pouches, according to a filing by the publicly held company. AEP said the combined operations are the second largest in the Australasia region.
The film maker also said in a Feb. 16 filing that it sold its interest in AEP Industries France SAS, in a transaction with an undisclosed third party. The operation recorded a loss of $2.4 million for its fiscal year ended Oct. 31.
According to its annual filing, AEP has only one plant in France. The 105,000-square-foot site in Fecamp makes PVC food wrap.