Tekni-Plex Europe NV is announcing today that its plan to acquire Gallazzi's Italian-based pharmaceutical blister film (Tradate, Varese, Lombardia) and adhesive tape substrate film (Gallarate, Varese, Lombardia) businesses has been approved by the Italian authorities supervising the sale.
The acquisition is expected to close in the second quarter of 2015. Gallazzi's Minerbio, Italy and Saint-Maur-des-Fosses, France locations are not part of the sale.
Gallazzi's Tradate site manufactures high-quality polyvinyl chloride (PVC) film and polyvinylidene chloride- (PVDC) coated barrier films for pharmaceutical blister applications in an ISO8 Cleanroom. The Tradate facility also produces PVC films for food packaging and technical PVC films and sheets. Gallazzi's Gallarate location produces thin PVC films used for adhesive-tape substrates.
"Gallazzi's manufacturing capabilities and product offerings are an excellent complement to our global Tekni-Films business," said Paul Young, Chief Executive Officer of Tekni-Plex. "The acquisition will add mono-PVC calendaring capabilities to our blister portfolio in Europe, as well as state-of-the-art PVDC coating which will strengthen our barrier blister technology base. These new capabilities will provide our customers with high-quality, innovative films and sheets to support their business needs."
