Taghleef Industries (Ti) has agreed to acquire Biofilm, a Latin America’s manufacturer of bi-oriented Polypropylene (BOPP) films, for an undisclosed amount.
The acquisition of Biofilm is a part of Taghleef’s effort to expand its presence in Latin America and secure its position as a leading supplier of BOPP films in the region and throughout the world.
Taghleef expects the deal to increase its annual production capacity to more than 500,000 tons.
Jointly owned by Valorem and Lisa Holdings, Biofilm offers BOPP films for flexible packaging, labels and industrial applications.
Biofilm’s product lines include clear high barrier, coextruded, metallized, white opaque, labels and plain (non-heat sealable).
Ti Group CEO Dr Detlef Schuhmann said: “For years, we have respected the high-quality products and innovative technology developed by Biofilm.
“By joining their highly experienced and trained workforce with ours, we will achieve synergies in product, production and technical service that will benefit both Ti’s existing customers and the new ones we welcome from Biofilm.
“We are looking forward to expanding our presence in Latin America and are especially excited to leverage Biofilm’s strong portfolio in metallized film and vacuum deposited barrier solutions.”
Taghleef said that the addition of Biofilm’s sites in Cartagena, Colombia and Altamira, Mexico to its existing manufacturing sites in the US, Canada, Italy, Hungary, Spain, Egypt, U.A.E., Oman and Australia will allow it to supply specialty films, as well as proactive and responsive technical support to its customers.
Biofilm official Dr Vittoriano DiLuzioof said: “Tiis an ideal match for Biofilm because of the company’s history of growth through its unique model of successful integration.”
Subject to regulatory approval, the deal is expected to close in the fourth quarter of 2018. The transaction was approved by the Board of Directors of all parties.
Headquartered in Dubai, Taghleef Industries is engaged in supplying specialty and high performance films for packaging, labels, industrial, and graphic arts applications.
The company, which has manufacturing sites in nine countries on five continents, the company has annual capacity of 410,000 metric tons of BOPP, CPP, and PLA films for the global marketplace.