M&A release August 2014
Tekni-Plex Acquires Closure Liner and Seal Manufacturer Tech-Seal
Tekni-Plex, Inc., a globally-integrated company that develops and manufactures innovative packaging materials and precision-crafted tubing solutions, has acquired the assets of Tech-Seal Products, Inc. Tech-Seal will retain its name and do business as "Tech-Seal Products, a division of Tekni-Plex, Inc."
Tech-Seal manufactures closure liners and innerseals for food, pharmaceutical, cosmetic, and industrial applications at its Triadelphia, WV-based manufacturing facility. The attractiveness of Tech-Seal is their strong manufacturing capability, proven quality record, and ability to deliver excellent service to its impressive customer portfolio. This combination has resulted in a proven track record of growth for Tech-Seal.
The combination of Tech-Seal and Tekni-Plex technologies and manufacturing capabilities will provide customers with enhanced value as technical capabilities are leveraged into new, innovative product offerings. In addition, the combined company will have an extensive and complementary offering of liner products and solutions that will meet a broader range of customer requirements. Serving the pharmaceutical, nutraceutical, food and beverage, home and personal care, and chemical/automotive industries, the combined company's primary product lines include conventional primary liners, foam based liners, heat induction liners and inner seals, conventional seals and pressure sensitive adhesive inner seals.
"We are very pleased to be adding Tech-Seal's manufacturing capabilities and product offerings to our liner business," said Paul Young, Tekni-Plex's CEO. "We look forward to the strong combination of Tech-Seal and Tekni-Plex's Tri-Seal® brand to provide our customers with top quality, service and innovative product offerings to support their business needs."
Paul Yousif, Tech-Seal's President, said, "We couldn't be happier to be joining Tekni-Plex. Our customers will benefit significantly from this combination."
ENDS
About Tech-Seal Products, Inc.
Tech-Seal was founded in 1982 and produces induction heatseal and specialty liners to support the needs of the closure liner space. Known for their quality and service to their customers Tech-Seal has successfully built the business on working closely with customers to fulfill their liner needs.
About Tekni-Plex, Inc.
Tekni-Plex, Inc. is a global manufacturer of technically-sophisticated products and components engineered to meet critical customer needs in niche applications. The Company operates in three segments: Healthcare, Specialty Packaging and Food Packaging. Tekni-Plex's primary products include closure liners, medical tubing, highbarrier pharmaceutical films, medical compounds, dispensing components and thermoformed containers. The Company is headquartered in King of Prussia, PA and operates 25 manufacturing facilities across nine countries worldwide to meet the needs of its global customers.
For more information on the capabilities of Tekni-Plex, visit www.tekni-plex.com.
