Valfilm North America, Inc., a wholly owned subsidiary of VALGROUP Packaging Solutions, has announced the close of the purchase of Dow Chemical Co.'s polyolefin films plant in Findlay, Ohio.
Included in the acquisition are both the plant’s physical assets and the majority of intellectual property practiced at the facility.
Under the terms of the deal, Dow will continue to operate the plant through late January 2015 at which time it will cease production to allow Valfilm to take ownership and restart the facility in February. Both Dow and Valfilm have committed to work with customers of the polyolefin films business to ensure a smooth transition, and former Dow employees will have an opportunity to seek employment with Valfilm.
“The Findlay site is an attractive acquisition for us and will be a good fit for our growth strategy in North America”, says Carlo Bergamaschi, managing director for Valfilm, “We are committed to maintaining a close relationship with all of Findlay’s customers to ensure a smooth transition and support their current and future product needs.”
Included in the transaction are a wide-variety of polyolefin films including wire and cable wrap film, automotive adhesive film, and barrier films.