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Tekni-Plex purchases South American closure liner manufacturer Geraldiscos

July 15/2019

MOSCOW (MRC) -- A subsidiary of U.S.-based packaging and tubing supplier Tekni-Plex Inc. has purchased Brazilian closure liner manufacturer Geraldiscos, which will become part of Tekni-Plexs Tri-Seal business, said Canplastics.

The terms of the deal have not been disclosed. Founded in 1964 and headquartered in Santana de Parnaiba, a suburb of Sao Paulo, Geraldiscos manufactures closure liners and induction seals for a wide variety of container types including PP, PE, HDPE, PVC, and PET to the South American food, chemical, automotive, and healthcare marketplace.

[The acquisition of] Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers, Paul Young, president and CEO of Tekni-Plex, said in a statement. We have followed the company for a long period of time, and have always been interested in its high-quality innovative products, excellent manufacturing capabilities, as well as a very strong management team.

Geraldiscos has approximately 140 workers, and Tekni-Plex plans on keeping them all. Additionally, Geraldiscoss general manager Gabriel Sahyao Leal Dos Santos will continue to oversee the operation.

Geraldiscos is the thirteen acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add-ons. Most recently, Tekni-Plex purchased Italian healthcare packaging company Lameplast SpA in early July.

Headquartered in Wayne, Pa., Tekni-Plex supplies products for such end markets as medical, pharmaceutical, food, beverage, personal care, household, and industrial.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil.
Category:General News
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