Film extruder Clopay Plastic Products Co. of Mason now owns 100 percent of its Clopay do Brasil venture, having bought out the shares of retiring President Alberto Beda.
Clopay acquired a majority stake in Isofilme Ltda. of Sao Paulo, Brazil, in 2002. Isofilme was renamed Clopay do Brasil, and was headed by Beda, who founded the company.
Both Clopay and Isofilme specialized in films for diapers, feminine hygiene products, and medical and industrial applications.
Walfner Leitao will be managing director, succeeding Beda, officials said. Beda will be managing director and part owner of a new company focused on manufacturing nonwoven materials for the regional hygiene market.
The October transaction means Clopay now owns 100 percent of the operations it is involved in, a spokesman said in a Nov. 22 telephone interview.
Clopay in July paid $82 million to buy the remaining shares of Finotech Verbundstoffe GmbH & Co. KG, a film extruder and converter of hygiene and industrial products based in Aschersleben, Germany.