Tekni-Plex buys healthcare, performance lidstock, induction seal and specialty lamination businesses from Oracle Packaging
Going forward, these product lines will become part of Tri-Seal, a Tekni-Plex business.
June 19, 2018 by Canadian Plastics
In a move to enter new markets and expand existing product lines, packaging supplier Tekni-Plex Inc. has acquired the healthcare packaging, performance lidstock, induction seal and specialty lamination businesses of Oracle Packaging.
The terms of the deal have not been disclosed.
Headquartered in Winston-Salem, N.C., Oracle specializes in manufacturing flexible packaging laminates for healthcare, food and beverage and specialty applications. The healthcare packaging portfolio includes pouchstock and sterilizable barrier laminates. Additionally, the company manufactures performance lidstock products, induction heat seals and specialty lamination structures that target hard-to-hold products and those requiring puncture resistance.
Going forward, these product lines will become part of Tri-Seal, a Tekni-Plex business. Tri-Seal operates manufacturing facilities in North America, Europe and Asia.
Oracle’s 450,000-square-foot manufacturing facility in Winston-Salem is included in the acquisition. The facility currently employs approximately 170 people.
“The addition of the Oracle product lines to our Tri-Seal business unit will enable us to combine our existing liner expertise with complementary specialty packaging offerings,” Tekni-Plex CEO Paul Young said in a statement. “Growing our flexible packaging capabilities with new lidding and pouchstock products will enable us to provide additional value to our existing customers and penetrate new markets.”
Headquartered in Wayne, Pa., Tekni-Plex develops and manufactures packaging materials, medical compounds, and medical tubing.