Taghleef Industries to acquire AET Films

Source：Taghleef Industries and AET Film Release Date：2012-04-17 470

Food & Beverage

DUBAI and WILMINGTON, DE USA -- Taghleef Industries, a BOPP manufacturer based in Dubai, has agreed to acquire Applied Extrusion Technologies, Inc. (AET Films), which specialises in OPP films.

Taghleef and AET Films said April 5 the transaction was approved by the boards of directors of both companies and is expected to be finalized by the end of the second quarter of this year, pending regulatory approvals. No terms were disclosed.

Houlihan Lokey is serving as the exclusive financial advisor to AET Films and its shareholders in this transaction.

Taghleef Industries currently has six production sites worldwide with a total annual capacity of 260,000 tons. Ti develops, manufactures and markets BOPP (biaxially-oriented polypropylene), BOPLA (NATIVIA?) and CPP (cast polypropylene) films for snacks, confectionery, bakery/biscuits, fresh produce packaging as well as for labelling and adhesive tapes. This portfolio of high quality transparent, white voided, metallised and high barrier films (EXTENDO?) to its customers in more than 100 countries, TI said.

Headquartered in Wilmington, Delaware, AET Films is a leading supplier in North America of OPP (specialised oriented polypropylene) films used primarily in flexible packaging for food, product labeling, and non-food applications. As a market leader with 100,000 tons of annual capacity, AET supplies many of the world's largest consumer products companies, and continues to develop advanced performing, innovative products to meet the future demands customers have come to expect from AET.

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