KlÃ¶ckner Pentaplast of America Inc. has acquired PMC Film Canada's rigid films product line for undisclosed terms.
PMC Film Canada has made rigid PVC films at its facility in Tottenham, Ontario, but the manufacturing assets are not included in the deal. The acquired business includes formulations.
Officials did not disclose the size of the acquired business, but PMC Film Canada has said on its Web site that it is the third-largest rigid PVC film producer in North America.
PMC approached KlÃ¶ckner to take over the line because of its expertise in rigid film, said Michael Tubridy, KlÃ¶ckner Pentaplast president and chief operating officer, in a prepared statement. ``This opportunity complements our product portfolio and is consistent with our growth strategy.''
PMC Film Canada supplied the general-purpose thermoforming, food, medical and box packaging markets.
``All these markets are serviced by KlÃ¶ckner Pentaplast today,'' said Nancy Ryan, KlÃ¶ckner Pentaplast manager of global communications.
PMC Film Canada is a subsidiary of PMC Group, a Mount Laurel, N.J., producer of specialty chemicals and plastics.
Gordonsville, Va.-based KlÃ¶ckner is a major producer of films for pharmaceutical, medical device, food, electronics, general purpose and specialty markets. It runs 20 production operations in 11 countries and has annual sales of more than $1.5 billion.
Chicago-based investment bank Blaige & Co. LLC represented PMC in the transaction.