Canadian General-Tower Ltd. (CGT; Cambridge, ON), a global provider of coated fabric and film products, announced today the acquisition of Liancourt, France–based companies AlkorDraka Industries and Alkor Medical Tubing, specialists in the formulation of plastic films. CGT has successfully acquired the assets and retained the employees of both companies. Effective immediately, the new trade names for the European businesses will be CGT Alkor and CGT Medical Products.
With 60 years of experience in calendering, printing and laminating, Alkor employs a team of highly skilled and dedicated employees and is recognized on a global scale for its commitment to quality, technology and innovation.
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.
The acquisition of Alkor’s medical tubing division will bring new potential to CGT with the production of tubing and film products for the highly regulated medical industry.
“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,” said CEO Craig Richardson in a prepared statement. “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.
“With the goal of increasing sales to our valued customers in both the industrial and automotive sectors, this investment will add to our capacity and geographic presence so that we can continue to serve our growing global customer base,” Richardson added.
The acquisition will provide CGT, which is celebrating its 150th anniversary this year, with a strategic base of operations in Europe, adding to the company’s existing portfolio in North America and China.