Plastipak Packaging Announces Acquisition of European Integrated Preform Business from the M&G Group
Friday March 7, 2:05 pm ET
PLYMOUTH, Mich., March 7 /PRNewswire/ -- Plastipak Packaging, Inc. ("Plastipak"), a wholly owned subsidiary of Plastipak Holdings, Inc., is pleased to announce that it has acquired 100% of the equity interests in two corporations, Europa Preforme S.r.l., and Preforme Sud S.r.l. With this purchase, Plastipak will acquire an integrated resin and preform facility in Verbania and an additional preform facility in Anagni (both located in Italy). Financial terms of the deal were not disclosed.
This acquisition will combine the management of the acquired companies with Plastipak's industry-leading technology, strong customer relationships and business process expertise in a manner that will support Plastipak's continued growth in Europe. The additional scale, technology and license agreements combined with geographical leverage will enable Plastipak to continue to bring value to its European and global customers.
This transaction closed February 29, 2008. The business will operate under the name of Plastipak Italia, S.r.l. The completion of this acquisition now gives Plastipak six locations in Western and Central Europe.
Additional information about Plastipak can be found at the company's website located at www.plastipak.com.
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