Sealed Air Corp. of Elmwood Park, N.J., is continuing to build its footprint in the medical market with the acquisition of Alga Plastics Co. of Cranston, R.I.
The transaction closed Aug. 6.
Alga thermoforms packaging for medical, electronics, consumer and industrial customers at one facility in Cranston. For Sealed Air, the purchase builds on its 2006 acquisition of medical products thermoformer Nelipak Holdings BV in Venray, Netherlands. With that purchase, Sealed Air acquired three plants in the Netherlands and one plant in Galway, Ireland.
``At the facility in Cranston, there will not be any changes,'' Sealed Air spokesman Ken Aurichio said in an Aug. 7 telephone interview. ``There will be no employee changes and there are no plans to move that facility. Nelipak has the presence in Europe; [Alga] gives us presence in the United States.''
``Two of the global trends driving Sealed Air's medical applications business are advancements in medical technology and a greater focus on safety and hygiene in health care,'' Sealed Air President and Chief Executive Officer Bill Hickey said in a news release.
The Alga deal boosts the company's position in the U.S. market and puts it in a better position to capitalize on demand for more sophisticated health-care packaging, he said.
Alga began as a family business in 1961, said Joan Parkos Moran, Alga's chief executive officer. She will stay until the end of the year.
``This is the culmination of a lot of work,'' she said. ``This is such a great fit and this is a great time. Joining Sealed Air, with its existing Nelipak business in Europe, means that we now cover the two biggest medical device regions in the world.''
Nelipak's other major markets include blister packs for consumer and other products, technical and electronics packaging, handling trays, lidding and contract packaging. The company also manufactures sealing machines for blister-pack users.