Prolamina Acquires Packaging Dynamics Business Unit
August 29, 2011
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Prolamina Corporation (“Prolamina” or the “Company”)
announced that it has signed a definitive acquisition agreement to acquire
certain assets and a defined book of business from Packaging Dynamics Corporation
located in Kaukauna, Wisc. Financial terms of the transaction were not
disclosed.
The acquisition will encompass Packaging Dynamics’ extrusion laminating, 10-color printing and converting business. The additional customers and equipment will support Prolamina’s focus on the food and medical packaging markets and its growing business pipeline. In particular, it will allow Prolamina to quickly begin producing additional, unique products for its customers. Key members of the operating management staff of the Packaging Dynamics unit will join the Prolamina team. All of the acquired Packaging Dynamics equipment will be relocated into Prolamina’s new plant in -- making the new plant one of the largest and lowest cost operations in the packaging industry.
Harold Bevis, founder, chairman and CEO of Prolamina says, “This acquisition is good for both Prolamina and Packaging Dynamics. We are a specialist at this type of manufacturing and we will become even better. Likewise, Packaging Dynamics, through its Thilmany Papers business unit, is an expert at paper-making and we are entering into a supply agreement for a great source of quality papers. Prolamina will now become one of Packaging Dynamics’ largest customers. We are also upgrading the acquired machines to be state-of-the-art and then reinstalling them alongside our new machines. As a result of these changes, we will now have a great footprint in the for high-end flexible packaging production. In less than a year, Prolamina has created an innovative, low-cost competitive force in the industry for our targeted markets.”
Tim French, COO of Prolamina says, “Prolamina will now have a manufacturing footprint that includes three plants, 12 laminators, 13 printing presses, two graphics design centers, in-house metallization, and converting equipment that includes laser scoring/perforating and pre-formed pouch making. We have redundant production amongst the three operations and provide state-of-the-art supply certainty to our customers.”
Completion of the transaction is expected in the third quarter of 2011.
Prolamina Corporation
(847) 604-5900
www.prolamina.com
The acquisition will encompass Packaging Dynamics’ extrusion laminating, 10-color printing and converting business. The additional customers and equipment will support Prolamina’s focus on the food and medical packaging markets and its growing business pipeline. In particular, it will allow Prolamina to quickly begin producing additional, unique products for its customers. Key members of the operating management staff of the Packaging Dynamics unit will join the Prolamina team. All of the acquired Packaging Dynamics equipment will be relocated into Prolamina’s new plant in -- making the new plant one of the largest and lowest cost operations in the packaging industry.
Harold Bevis, founder, chairman and CEO of Prolamina says, “This acquisition is good for both Prolamina and Packaging Dynamics. We are a specialist at this type of manufacturing and we will become even better. Likewise, Packaging Dynamics, through its Thilmany Papers business unit, is an expert at paper-making and we are entering into a supply agreement for a great source of quality papers. Prolamina will now become one of Packaging Dynamics’ largest customers. We are also upgrading the acquired machines to be state-of-the-art and then reinstalling them alongside our new machines. As a result of these changes, we will now have a great footprint in the for high-end flexible packaging production. In less than a year, Prolamina has created an innovative, low-cost competitive force in the industry for our targeted markets.”
Tim French, COO of Prolamina says, “Prolamina will now have a manufacturing footprint that includes three plants, 12 laminators, 13 printing presses, two graphics design centers, in-house metallization, and converting equipment that includes laser scoring/perforating and pre-formed pouch making. We have redundant production amongst the three operations and provide state-of-the-art supply certainty to our customers.”
Completion of the transaction is expected in the third quarter of 2011.
Prolamina Corporation
(847) 604-5900
www.prolamina.com
