DAILY NEWS Oct 23, 2012 11:29 AM - 0 comments

AEP buys films business of Quebec's Transco Plastics

TEXT SIZE bigger text smaller text
2012-10-23

Film and sheet manufacturer AEP Industries Inc., and its Canadian subsidiary AEP Canada Inc., is buying the assets of Quebec-based flexible packager Transco Plastics Industries Ltd. for approximately US$5.3 million.

The company will gain about US$30 million in annual net sales from Transco’s former customers, according to a news release from AEP.

The transaction is expected to close within the next two weeks.

According to South Hackensack, N.J.-based AEP, it intends to relocate the manufacturing activities associated with the Transco businesses to its manufacturing sites throughout North America. AEP has 11 plants in the U.S. and one in West Hill, Ont.

"This is a compelling investment opportunity for AEP that will gain meaningful business to our company and deliver a solid return on invested capital," said Brendan Barba, AEP’s chairman, president and CEO. "With Transco we will expand our already robust presence in the plastic packaging industry and enhance our suite of products."

AEP manufactures, markets, and distributes a range of plastic packaging products for the consumer, industrial, and agricultural markets. The publicly traded company reported sales of approximately US$292 million in the third quarter of 2012.

Monitor These Topics


Horizontal ruler

Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Canadian Plastics has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields