Italy's Tekni-Plex Europe NV, a subsidiary of U.S.-based Tekni-Plex Inc., has announced that its plan to acquire Gallazzi SpA's Italian-based pharmaceutical blister film and adhesive tape substrate film businesses has been approved by Italian authorities.
Tekni-Plex said the acquisition is expected to close in the second quarter of 2015.
The financial details of the acquisition have not been revealed. Gallazzi's Minerbio, Italy and Saint- Maur-des-Fossés, France locations are not included in the sale.
Tekni-Plex Europe makes a variety of film and tubing products for the packaging, medical, automotive and other markets.
“Gallazzi's manufacturing capabilities and product offerings are an excellent complement to our global Tekni-Films business,” said Paul Young, CEO of Wayne, N.J.-based Tekni-Plex.
“The acquisition will add mono-PVC calendaring capabilities to our blister portfolio in Europe, as well as state-of-the-art PVDC coating which will strengthen our barrier blister technology base. These new capabilities will provide our customers with high-quality, innovative films and sheets to support their business needs.”
Gallazzi produces PVC films and PVDC-coated barrier films for a variety of applications including pharmaceuticals, food packaging and other products.
Tekni-Plex operates 26 manufacturing facilities across nine countries worldwide.