Canadian film extruder Balcan Plastics Ltd. is making a move into the U.S. by acquiring a manufacturing plant in Wisconsin.
Balcan, which is based in St. Leonard, Quebec, recently paid $13 million for a 215,000-square-foot industrial building in Pleasant Prairie, Wis., according to a June 6 report in the Milwaukee Business Journal. Balcan will rehab the building during the next 12 months before beginning film operations with a staff of 60, the report said. That number could double over time, according to the report.
Balcan bought the building from manufacturer Mondi Akrosil LLC, which had closed the 108-employee site in September.
The acquisition continues a busy year for Balcan. In February, the firm acquired two plastics-related businesses in Canada. Balcan first purchased Montreal-based Nelmar Group, which includes Nelmar Security Packaging Systems Inc., Plastixx Extrusion Technologies Inc. and Plastixx FFS Technologies Inc.
Nelmar Group makes extruded film, form-fill-seal films and plastic valve bags, and tamper-evident security packaging. In a news release, Balcan officials said that the Nelmar deal will enhance Balcan's existing portfolio of products.
Also in February, Balcan acquired Covertech Fabricating Inc. of Toronto. Covertech makes high performance insulation, film and flexible packaging products for a variety of end markets. Its manufacturing capabilities include film extrusion, narrow and wide web flexo-printing, laminating and bag manufacturing.
Chicago-based financial firm Mesirow advised Nelmar and Covertech on those deals. Terms were not disclosed for either transaction.
Balcan employs about 1,100, making plastic packaging and film for industrial applications. The firm ranked No. 74 in the most recent Plastics News survey of North American film and sheet manufacturers, with estimated sales of $70 million.