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Taghleef Industries buys AET FilmsTaghleef Industries buys AET Films
Biaxially oriented polypropylene film producer Taghleef Industries has acquired Applied Extrusion Technologies (AET Films), a manufacturer of specialized BOPP films.This acquisition will increase Taghleef's annual global BOPP film production capacity to approximately 360,000 tons per year.Based in Dubai, Taghleef has operations in the U.A.E., Oman, Egypt, Australia, Italy and Hungary and distribution centers in the U.S., China and Germany.
PlasticsToday Staff
June 5, 2012
1 Min Read
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The company develops, manufactures and markets BOPP, BOPLA (biodegradable biaxially oriented polylactic acid), and CPP (cast polypropylene) films for snacks, confectionery, bakery/biscuits, fresh produce packaging as well as for labeling and adhesive tapes.
AET Films is headquartered in Wilmington, DE and is a supplier of specialized BOPP films in the Americas and offers a wide range of flexible packaging films for labeling, food and non-food applications.
The company has two production facilities located in Varennes, Canada and Terre Haute, IN, as well as an R&D facility in Newark, DE and an R&D pilot line in Covington, VA.
Rashid Al Ghurair, chairman of Taghleef, stated in the news release that the purchase of AET Films allows the company to "expand its global footprint, secure a strategic position within the North American market and connect with multinational brand owners."
An integration team has been designed and implemented now that the purchasing process is complete, the company stated.
"Under its current ownership and management, AET has steadily posted healthy financial returns year after year for the past few years and is now ready to strategically partner with a group that is expanding its global footprint," said Detlef Schuhmann, CEO of Taghleef. "I am eager to bring together our respective skills and technology in order to deploy world class capabilities to best serve our customers, bringing them more solutions."
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