MOSCOW (MRC) -- Pregis has acquired Italian temporary protective films manufacturer Soprad, said the company.
The financial terms of the acquisition were not disclosed. Soprad’s products will be marketed under the Pregis’ PolyMask brand, which includes temporary surface protection films and specialty films.
Headquartered in Deerfield Illinois, Pregis makes protective films, tape and masking as well as packaging products used in the agriculture, transportation, construction and furniture industries. This is Pregis’ first acquisition under new private equity owner, Warburg Pincus and the latest example of Pregis’ continued investment in the European marketplace.
“Soprad has a 40-year track record of supplying performance-oriented adhesive protective films for a variety of surfaces including metal, plastic, glass and carpet,” said Kevin Baudhuin, president and CEO of Pregis. “Its robust European customer base provides an ideal foundation from which to expand the availability of our existing temporary adhesive film products."
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
The Soprad acquisition is the first acquisition under Pregis’ new private equity owner, Warburg Pincus. This is the latest example of Pregis’ continued investment in the European marketplace. The company also recently announced the opening of Pregis Europe’s Customer Experience and Paper Specialist Centre in Stevenage, UK, as well as a Film and Foam Specialist Centre in Heerlen, The Netherlands.
MRC