Taghleef Industries to acquire AET Films

Taghleef Industries and Applied Extrusion Technologies (AET Films) have reached agreement for Taghleef to acquire AET Films. The transaction, which was approved by the boards of directors of both companies, is subject to regulatory approval and is expected to close by the end of the second quarter, 2012. Houlihan Lokey is serving as the exclusive financial advisor to AET Films and its shareholders in this transaction. 

Headquartered in Dubai, Ti currently has six production sites across the globe with a nominal capacity of 260,000 tons per annum. Ti develops, manufactures and markets BOPP (biaxially-oriented polypropylene), BOPLA (Nativia) and CPP (cast polypropylene) films for snacks, confectionery, bakery/biscuits, fresh produce packaging as well as for labeling and adhesive tapes. Ti offers a portfolio of transparent, white voided, metalized and high barrier films (Extendo) to its customers in more than 100 countries.

AET Films is a leading North American supplier of specialized oriented polypropylene (OPP) films used primarily in flexible packaging for food, product labeling, and non-food applications. Headquartered in Wilmington, Delaware, the company serves the packaged food, beverage, and other consumer product markets. With 100,000 tons of annual capacity, AET supplies many of the world’s largest consumer products companies.

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