Taghleef Industries (Ti), a global biaxially oriented polypropylene film (BoPP) producer, announced that it has closed the transaction to acquire Derprosa Film, a Spanish supplier of flexible films for the packaging industry and.
Founded in 1988 in Jaén, Spain, Derprosa Film manufactures and markets BoPP films for food packaging, labels and graphic arts. The headquarters and the production facilities are located in Southern Spain with an office in Madrid and a worldwide sales network in place. In recent years, Derprosa differentiated itself by developing, patenting and offering a portfolio of films designated to the luxury packaging market.
Rashid Al Ghurair, chairman of Ti, states: "The high-added value film range of Derprosa Film will allow Ti to penetrate new markets, diversify its product offering and seize further business opportunities. Our companies will join their forces and consolidate their presence worldwide."
Headquartered in Dubai, Ti is currently one of the leading BoPP producers with operations in U.A.E., Oman, Egypt, USA, Canada, Australia, Italy and Hungary and distribution centers in China, El Salvador and Germany.
Detlef Schuhmann, CEO of Ti Group, says, "In the past years Derprosa Film has been able to create a high-performing business and has strong prospects ahead. Ti is proud to add this new company to the Group who shares the same values: to provide the industry with outstanding products and services through reliable and consistent quality films."
José Ángel Medina, CEO of Derprosa Film, adds, "Derprosa's strategic approach to the markets and continuous investment in research and development has allowed the company to grow healthily. Indeed our choice to partner with Ti has been driven by our increasing exposure to the markets and the opportunity to maximise our reach."
Derprosa Film will be incorporated with Ti Europe consisting of four production sites: Italy, Spain, Hungary and Egypt.
This strategic acquisition will expand the Ti group's presence while increasing its annual global BoPP film production capacity to approximately 400,000 tons.