CCL Industries buying Treofan Americas film operations for $255 million
Canadian Plastics
Canadian Plastics PackagingToronto-based CCL said its purchase includes a plant that produces biaxially oriented polypropylene film in Zacapu, Mexico, and a sales office and distribution centre in North Carolina, along with other offices.
Toronto-based packaging supplier CCL Industries Inc. is buying the Treofan Americas operations in Canada, the U.S., and Latin America from M&C SpA of Italy for $255 million.
In a statement, CCL said its purchase includes a plant that produces biaxially oriented polypropylene (BOPP) film in Zacapu, Mexico, and a sales office and distribution centre in North Carolina, along with other offices.
When it finalizes the deal in the second quarter, CCL will fold the operations into the Innovia business it acquired in early 2017. Its Innovia business already runs BOPP extrusion plants in Atlanta, the United Kingdom, Belgium, Australia, and Mexico.
CCL said the purchase will give it access to Treofan’s expertise in cavitated film for labels and packaging and its emphasis on wrap-around and in-mold decoration. Innovia has been targeting pressure-sensitive labels. The combination covers the major label growth technologies with the exception of sleeves.
