Appleton acquires New England Extrusion

Appleton announced today that it has acquired New England Extrusion, Inc. a privately-held company that manufactures single and multilayer polyethylene films for packaging applications. The purchase price was approximately $68 million plus the assumption of certain liabilities. 
“Our growth strategy includes acquiring well-managed, customer-focused companies, and New England Extrusion (NEX) meets those criteria,” said Doug Buth, Appleton’s chief executive officer. “NEX provides unique film products and technical expertise, a strong market presence and an experienced management team that we will leverage to accelerate the growth of our packaging business. We also intend to provide the resources to enable NEX to continue its strong growth.” He added that NEX will continue to do business as New England Extrusion.
Gary Stetson, NEX founder and president, said NEX and Appleton share an operating philosophy that focuses on customer service. “This acquisition is good news for our customers and employees because of Appleton’s focus on product quality and service as well as continued business growth,” he said.