Jul 29 2009
Clondalkin Group, the international producer of flexible and specialist packaging products with 40+ production locations throughout Europe and North America and annual sales in excess of $1.2 billion, is pleased to announce the acquisition of Ohio-based Cleveland Plastic Films ("Cleveland"), a leading producer of customized and highly engineered flexible plastic films for banner, food and industrial applications.
Utilizing its extensive product development expertise and well-invested mono, co-extrusion and converting facilities, Cleveland is a leading innovator of high value-added films. Cleveland's product offering includes a wide range of proprietary banner films developed in-house, including the certified self-extinguishing FlameGard LiteGard two-sided printable banner film and FlameGard Tuflok one-sided printable banner film. From its purpose-built production facility in Elyria, Ohio, Cleveland Plastics is well placed to deliver superior and prompt customer service throughout the Mid-West.
The acquisition expands Clondalkin Group's North American industrial and institutional plastic packaging portfolio of specialist producers, which includes Accutech Films based in Coldwater, Ohio, Direct Plastics based in Orangeville, Ontario, Canada and Fortune Plastics, which has multiple production facilities in Connecticut, Tennessee, Illinois, Florida and Arizona.
Commenting on the acquisition, Norbert McDermott, CEO of Clondalkin Group, said: "The Cleveland acquisition is another important expansion of our product, technology and geographic capability in North America. Cleveland's expertise in industrial plastic applications richly enhances our industrial offerings from Accutech Films and Direct Plastics. Adding Cleveland's competencies to our existing capabilities further expands and improves Clondalkin's product reach. At a time when many businesses are focused on service reduction and product rationalization our steady and consistent investment record demonstrates our focus on continuous improvement in our value-added and service propositions to our growing customer base. This is our fourth business acquisition in 24 months in North America, alongside record organic investments in our existing businesses. This sustained investment development activity reflects our financial capability. It also demonstrates our commitment to our core strategy throughout the economic cycle. I welcome Cleveland Plastics, its management and all its employees to Clondalkin Group where we have a proud record of growth in Europe and North America over the past 30 years"
Jim Hendershot, Cleveland's CEO, stated: "Joining Clondalkin Group is a very positive development for our employees and customers alike. With multiple plastic packaging plants in Europe and North America producing specialist films engineered to customer applications, Clondalkin Group is a fantastic collection of quality- and product-development led businesses. It offers us a unique platform as well as technical support to build on Cleveland's proud record of product development and innovation. We are looking forward with enthusiasm to developing the many customer service opportunities that this acquisition presents to us."
Paul Hogan, Clondalkin Group's Director of Development said "Cleveland is deservedly acclaimed for its product development and service innovation record. This focus aligns the Cleveland customer service proposition very effectively with that of Clondalkin Group. We occupy leading positions in high-barrier, multi-layer, printed and biodegradable plastic films delivered to specialist applications in the industrial, food, beverage, retail, medical and agricultural & horticultural markets. Cleveland adds meaningfully to these offerings and its customer base will benefit from the expanded range of products and technologies that we will bring to it."