CPI Plastics Group buys U.S. bagmaker (November 28, 2002)
In a move designed to increase the company's film business, CPI Plastics Group Ltd. of Mississauga, ON, has purchas...
In a move designed to increase the company’s film business, CPI Plastics Group Ltd. of Mississauga, ON, has purchased Mid-America Bag LLC, a manufacturer of high and low density polyethylene bags.
Peter Clark, chair and CEO of CPI, states "the acquisition of MAB provides CPI an excellent platform on which to execute our strategy for penetration into the plastic film market. With a solid existing customer base and excess manufacturing capacity that exists at MAB, we will be well positioned to grow our plastic film business in both Canada and the USA."
As part of the agreement, CPI will continue to employ over 95% of the current employees.
Mid-America Bag (MAB) is located in North Chicago, IL. It had sales of US$12.9 million for the year ended Oct. 31, 2002.
CPI Plastics Group is an international leader in thermoplastic profile design, engineering and manufacturing. The company’s Industrial Products group supplies profiles to appliance, automotive and office furniture markets. The Consumer Products group manufactures and distributes the Eon Decking System and a line of branded, private-label plastic household bags.
The company has 800 employees in seven plants, and over 120 extruders.