Canadian General-Tower acquires French plastic film makers
The Cambridge, Ont.-based supplier of coated fabric and film products has purchased Liancourt, France-based companies AlkorDraka Industries and Alkor Medical Tubing for an undisclosed amount.
In a move that gives it an expanded footprint in the European tubing and film products sectors, Canadian General-Tower Ltd. (CGT), a Cambridge, Ont.-based supplier of coated fabric and film products, has acquired Liancourt, France-based companies AlkorDraka Industries and Alkor Medical Tubing, specialists in the formulation of plastic films.
The financial terms of the deal have not been disclosed.
The new trade names for the European businesses will now be CGT Alkor and CGT Medical Products, CGT said in a statement.
As a previous supplier of high-quality pool liners to CGT Europe, AlkorDraka Industries now covers eight business sectors: Ceiling and wall decoration, coatings for window marketing, dance floor films, consumer product packaging, pool liners, containment film, movie screens and various technical applications.
“This new development is an important strategic opportunity and comes with great excitement for the future of CGT as we continue to fulfill our global growth endeavors,” CGT CEO Craig Richardson said. “The initial reaction we have received from our stakeholders has been extremely positive as CGT moves toward investing both personnel and capital into the European markets to grow these newly acquired businesses.”
The acquisition will provide CGT, which is celebrating its 150th anniversary this year, with a strategic base of operations in Europe, Richardson said, adding to the company’s existing portfolio in North America and China.
CGT manufacturers coated fabrics and films for the automotive, building products, and pool liner sectors.