Dubai, UAE-based Taghleef Industries will acquire Applied Extrusion Technologies, Inc. (AET Films) of Wilmington, DE. The transaction, which was approved by the Board of Directors of both companies, is subject to regulatory approval and is expected to close by the end of the second quarter 2012. Terms of the deal were not disclosed.
Headquartered in Dubai, Taghleef Industries currently has six production sites across the globe with a nominal capacity of 260,000 tons/yr. Taghleef Industries 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 labeling and adhesive tapes. The company offers a portfolio of high quality transparent, white voided, metallized and high-barrier films (Extendo) to its customers in more than 100 countries.
AET Films is a leading supplier in North America of specialized oriented polypropylene (OPP) films used primarily in flexible packaging for food, product labeling, and non-food applications. Headquartered in Wilmington, DE, the company provides supply chain value by applying advanced polymer technology, world-class manufacturing capabilities, and unmatched service organizations to offer solutions to the packaged food, beverage, and other consumer product markets. 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.
