Taghleef Industries (Ti; Dubai, UAE) is set to acquire Biofilm, one of Latin America’s leading producers of BOPP films for flexible packaging, labels and industrial applications. The transaction, first announced August 21, was approved by the Board of Directors of all parties and is subject to regulatory approval. It is expected to close during the fourth quarter of 2018.
With this acquisition, Ti secures its position as a leading supplier of BOPP films in Latin America and throughout the world, increasing annual production capacity to more than 500,000 tons. The facilities in Cartagena, Colombia, and Altimira, Mexico, will join existing manufacturing sites in the United States, Canada, Italy, Hungary, Spain, Egypt, U.A.E., Oman and Australia.
“For years, we have respected the high-quality products and innovative technology developed by Biofilm,” remarked Dr. Detlef Schuhmann, CEO of the Ti Group. “By joining their highly experienced and trained workforce with ours, we will achieve synergies in product, production and technical service that will benefit both Ti’s existing customers and the new ones we welcome from Biofilm. We are looking forward to expanding our presence in Latin America and are especially excited to leverage Biofilm’s strong portfolio in metalized film and vacuum deposition barrier solutions,” Schuhmann added.
Dr. Vittoriano Di Luzio of Biofilm, jointly owned by Valorem S.A. and Lisa Holdings, commented, “Ti is an ideal match for Biofilm because of the company’s history of growth through its unique model of successful integration. Biofilm is excited to partner with Taghleef and looks forward with confidence to being part of this strong and continuously growing organization.”