Klöckner Pentaplast of America, Inc., announces the acquisition of Greenway Plastics Industries Corporation (Wayne, NJ), effective immediately, for an undisclosed sum. Klöckner Pentaplast will purchase substantially all manufacturing assets associated with the BAREX® film business, as well as its proprietary product formulations and trade names.
Greenway Plastics Industries, owned by Innovative Plastics Corporation (Orangeburg, NY), is the sole North American extruder of BAREX® acrylonitrile copolymer blown film which is used for thin film and sheet for pharmaceutical, medical device, food, cosmetics, and general-purpose consumer and industrial packaging applications.
Klöckner Pentaplast will relocate the manufacturing assets to its Beaver, WV, facility. “The purchase of Greenway Plastics is a logical product portfolio enhancement for our specialty barrier film product lines, allowing us to better serve the broad barrier requirements of our customers,” comments Michael Tubridy, president of Klöckner Pentaplast of America. “The oxygen barrier, chemical resistance, and sealability of BAREX® film offers a unique combination for specialty barrier applications.”
Founded in the U.S. in 1977, Klöckner Pentaplast of America’s product line includes vinyl, polyester, BAREX®, high-impact polystyrene (HIPS), polypropylene, ACLAR®-laminated, COC-laminated and -coated, and PVDC-coated films for pharmaceutical, medical device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications.
For more information on the acquisition of Greenway Plastics Industries, contact Nancy Ryan, Communications and Media Manager, Klöckner Pentaplast of America, Inc., 3585 Klöckner Road, Gordonsville, VA 22942. Telephone (434) 293-7718; fax (434) 293-7730; email: [email protected] Website: www.kpfilms.com.