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GE Capital provides finance to Taghleef Industries

GE Capital, Corporate Finance has provided a $143m cash flow credit facility for Taghleef Industries, a UAE-based producer of plastic and packaging films.

The financing was used by the company to acquire Applied Extrusion Technologies (AET), a manufacturer of specialized packaging films.

Taghleef Industries has six production sites around the world and distribution in more than 100 countries and produces biaxially oriented polypropylene (BoPP) packaging films, while AET manufactures flexible packaging films for labeling, food and non-food applications.

Taghleef Industries CFO Chandan Ghatak said the flexible financing provided by GE Capital helped the company to expand its global footprint.

"GE’s knowledge of the U.S. debt capital markets helped us execute the acquisition," Ghatak added.