Polyethics from Orillia, Ontario, focused on institutional and industrial biodegradable bags, but buying it launches in private label, retail and consumer waste and food bags. The deal expands production capacity Polyethics "to 23 extrusion lines. Terms of the purchase were not disclosed.
Diversification is a key driver for the transaction, in accordance with Polyethics Director of Sales and Marketing Jason glass.
"We're seeing consolidation and we, as an asset," Glass said in a telephone interview from Newmarket, Ontario, his company's facility, which is its main distribution center and in which the laboratory is located Polyethics for biodegradable additives.
Polyethics forecasts the acquisition will increase its annual sales by 70 percent, but it did not provide exact figures.
Polyethics operates two plants in the production of Orillia, where she is moving assets middle America. With the object of Newmarket, the total area of the company is 250,000 square feet of glass, he said.
Mid-America was owned by three private investors. In 2009 he bought the former Division film CPI Plastics Group Ltd. Mississauga, Ontario, which went into receivership earlier this year. CPI rack made consumer bag and dispenser system. This is complemented by Max Mid-America and the best selling bags of major retailers like Home Depot and Wal-Mart. Mid-America was also the leader in private label bags and made the industrial and institutional garbage bags.
Polyethics will add about 25 employees, mostly in manufacturing, in Orillia as a result of the acquisition. The main directions of the product, oxo-biodegradable polyethylene bags for the institutional and industrial sales. The company was founded in 1991.
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