Alcan Inc. sells off 2 Europe operations
MONTREAL - In its ongoing refocusing of its packaging portfolio in favor of flexibles, Alcan Inc. has sold two European operations.
Alcan sold Petplas Packaging Ltd., a PET preform maker and custom blow molder of multilayer food and beverage bottles, to Esterform Packaging Ltd. of Tenbury Wells, England.
Petplas employs about 90 at its one plant, in Leeds, England. Founded in 1990, Petplas recorded 2004 sales of more than US$50 million. The acquisition makes Esterform the biggest privately owned PET preform and bottle manufacturer in the United Kingdom, with annual capacity of 1.5 billion units.
Petplas provides Esterform with a base to serve northern England and Scotland. ``Both sites are strategically vital to Esterform's future progress,'' said Mark Tyne, Esterform commercial director.
Alcan also sold its Laffon cosmetics packaging plant to Luca Rossi, its general manager. The plant in Venegono Inferiore, Italy, injection molds stock powder compacts and employs 115.
Montreal-based Alcan bought both businesses when it took over French packaging and aluminum group Pechiney International SA. Alcan is focusing on its more profitable flexible packaging businesses.
India's Tata buying German firm's assets
PUNE, INDIA - Indian automotive group Tata AutoComp Systems Ltd. is moving into the European vehicle interiors market with its planned purchase of the business of insolvent German auto parts molder Wundsch Weidinger.
Tata of Pune established a subsidiary in Germany to acquire Weidinger assets, including a plastics injection molding unit, tooling shop and assembly plant in Coburg, Germany. The value of the deal was not disclosed.
Weidinger, which filed for insolvency in March, employed 270. Tata, part of India's leading industrial conglomerate Tata Group of Mumbai, initially will take on the full workforce and customer portfolio, which includes Audi, BMW, DaimlerChrysler, Volvo, Volkswagen and Bentley.
Tata AutoComp, set up by the group in 1995 to take part in the modernization of India's automotive parts industry, operates 14 manufacturing plants and three engineering centers. Leading Tata customers include Fiat, Ford, General Motors, Honda, Hyundai and Toyota, as well as its sister company Tata Motors.
Tata's goal is to generate 2008 sales of more than US$1 billion.