Valfilm buys Dow Polyolefin Films plant
Transfer of ownership for the Findlay, Ohio plant to take place late January 2015.
December 8, 2014
by Canadian Packaging staff
Long Beach, CA—Valfilm North America, Inc., a wholly-owned subsidiary of VALGROUP Packaging Solutions, announced the close of the purchase of The Dow Chemical Company’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,” states Valfilm managing director Carlo Bergamaschi. “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.
Founded in 1976, in Lorena / SP, Valfilm is a Brazilian company associated with VALGROUP Packaging Solutions, which specializes in developing, manufacturing and marketing flexible packaging in polyethylene. VALGROUP offers complete and innovative solutions in flexible and rigid plastic packaging and has over 3,500 employees and a capacity for a volume of approximately 350,000 tons / year of resin.
Company information available at www.valfilm.com.