Acquisitions & Moves this week
A brief mention of company mergers and acquisitions during this week…
September 23, 2015
by Canadian Packaging staff
Here are some of the packaging industry acquisitions and moves from the past week:
- Ashland Inc., headquartered in Covington, KY, plans to separate into two independent, publicly-traded companies—one focused on specialty chemicals and the other focused on high-performance lubricants. The new Ashland will be a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets. These markets are currently served by Ashland’s Chemicals Group, comprising Ashland Specialty Ingredients and Ashland Performance Materials. Key markets and applications include pharmaceutical, personal care, food and beverage, architectural coatings, adhesives, automotive, construction and energy. The second company, Valvoline, will focus on building the world’s leading engine and automotive maintenance business by providing hands-on expertise to customers in each of its primary market channels: Do-It-Yourself; Installers; Valvoline Instant Oil Change; and International.
- In a move that will complement its existing product portfolio in the food and confectionery industry, Bosch Packaging Technology, a leading supplier of process and packaging technology, is planning to acquire Kliklok-Woodman Corporation, based in Decatur, Georgia, U.S. Kliklok- Woodman specializes in the production of secondary packaging machinery, such as end-load cartoners, top-load erectors and closers, and in primary packaging equipment with vertical form, fill and seal machines. The company is a widely-recognized manufacturer of packaging machinery for the food industry. The company has more than 60 years’ experience in the packaging of goods such pastries and confectionery, frozen food and dairy products. With its own research and development team, and approximately 250 associates, Kliklok- Woodman is steadily growing and generated sales of E49 million (~ CDN$72.5 million) in 2014.
- Toray Composites (America), Inc. has completed a multimillion dollar expansion project to add critical capacity to its production facility in Pierce County, Washington State. This new expansion will add significant prepreg capacity to TCA’s facility to support demand growth in Boeing and other programs. TCA supplies carbon fiber composite materials to Boeing for its Boeing 777, 787 primary structure and will be used on the new 777X wing. TCA also supplies a diverse customer base both domestically and internationally. TCA is a wholly-owned subsidiary of the Tokyo-based Toray Industries, Inc.