IRVINE, CALIF. (June 13, 5:25 p.m. ET) — Flexible packaging supplier Scholle Corp. has sold its Vacumet Plastics division to Polyplex Americas Inc.
Terms have not been disclosed for the deal, which is expected to close next month. Polyplex Americas is a subsidiary of Noida, India-based Polyplex Co. Ltd.
Vacumet Plastics, based in Austell, Ga., makes metalized plastic films for use in barrier and microwave susceptor food packaging, balloons, decorative applications and building materials. The company has an annual capacity of 30 million tons.
The acquisition will “significantly expand” Polyplex's metalized product range to include all plastic substrates and broaden the range of products available to the company's North American customers, according to a June 13 news release.
Polyplex said the acquisition fits its global growth strategy. A film and resin manufacturing plant in Decatur, Ala., is slated to open next year. The company has also invested in a thick film PET plant in Thailand and a bottle-grade resin plant in Turkey.
Scholle said the sale supports its strategy of focusing on growth in its core performance packaging solutions business.
Vacumet Plastics is a division of Vacumet Corp. The metalizer, which has headquarters in Wayne, N.J., also has paper division.
Scholle, based in Irvine, Calif., is known for its bag-in-a-box packaging. The company has manufacturing plants worldwide and sales offices in more than 60 countries.
Polyplex says it is the world's fourth largest producer of thin polyester film. It has manufacturing plants in India, Thailand, Turkey and the U.S.