03.11.22
Toray Plastics (America) has completed the sale of its Old Baptist Road (OBR) plant building and assets to Trico Specialty Films of North Kingstown, RI, an affiliate of Arlin Mfg. Co., Inc., of Lowell, MA. The business was transferred on January 3, 2022, and the final terms of the deal are confidential. Trico is continuing to provide service to OBR customers.
“Toray signed a letter of intent with Arlin in September 2021, and we are very pleased to have achieved a quick, smooth transition,” says Christopher Roy, executive vice president, Toray Plastics (America).
Roy explains that several successful strategic expansions and investments in state-of-the-art film lines in the company’s Torayfan OPP film division had significantly reduced Toray’s reliance on its OBR assets. He also notes that every Toray employee at OBR was invited to remain with the company and transition to the Torayfan Division.
Meanwhile, Action Point, Inc (Action Packaging) and Signature Flexible Packaging, Inc., an H.I.G. Capital portfolio company, has announced the acquisition of Techflex Packaging, LLC (Techflex).
Headquartered in Gardena, CA, USA, Techflex provides pouch converting capabilities to short-run, high-SKU count customers, primarily serving the food and medical end markets. The combination will allow the company to provide a full-service flexible packaging product set to further meet the needs of its combined customer base. The acquisition strengthens the company’s ability to provide comprehensive flexible packaging solutions and services to its customer base throughout North America.
“We are thrilled to support this strategic investment,” says Ryan Kaplan, managing director at H.I.G. Capital. “Techflex’s pouch converting capabilities represents a natural expansion of the company’s existing capabilities on the West Coast.”
Here are the highest-trafficked news items for the week ending on March 11:
1. Toray Plastics (America) sells facility to Trico Specialty Films
2. Action Packaging and Signature Flexible Packaging complete acquisition, rebrand
3. Durst announces in-person Durst Expo 2022: Label
4. Dscoop Edge meets in the Rockies
5. HP Indigo and Hershey celebrate women – one chocolate bar at a time
“Toray signed a letter of intent with Arlin in September 2021, and we are very pleased to have achieved a quick, smooth transition,” says Christopher Roy, executive vice president, Toray Plastics (America).
Roy explains that several successful strategic expansions and investments in state-of-the-art film lines in the company’s Torayfan OPP film division had significantly reduced Toray’s reliance on its OBR assets. He also notes that every Toray employee at OBR was invited to remain with the company and transition to the Torayfan Division.
Meanwhile, Action Point, Inc (Action Packaging) and Signature Flexible Packaging, Inc., an H.I.G. Capital portfolio company, has announced the acquisition of Techflex Packaging, LLC (Techflex).
Headquartered in Gardena, CA, USA, Techflex provides pouch converting capabilities to short-run, high-SKU count customers, primarily serving the food and medical end markets. The combination will allow the company to provide a full-service flexible packaging product set to further meet the needs of its combined customer base. The acquisition strengthens the company’s ability to provide comprehensive flexible packaging solutions and services to its customer base throughout North America.
“We are thrilled to support this strategic investment,” says Ryan Kaplan, managing director at H.I.G. Capital. “Techflex’s pouch converting capabilities represents a natural expansion of the company’s existing capabilities on the West Coast.”
Here are the highest-trafficked news items for the week ending on March 11:
1. Toray Plastics (America) sells facility to Trico Specialty Films
2. Action Packaging and Signature Flexible Packaging complete acquisition, rebrand
3. Durst announces in-person Durst Expo 2022: Label
4. Dscoop Edge meets in the Rockies
5. HP Indigo and Hershey celebrate women – one chocolate bar at a time