AkzoNobel Packaging Coatings has announced the divestment of its Pure-Flex flexible packaging adhesives and ink media business to Polytech International Ltd. The flexible packaging adhesives business specializes in solvent-based, solvent-free and water-based laminating adhesive and ink media technologies for the flexible packaging film converting industry in Europe and South Africa.
“Following a strategy review, it has been decided the Flex-pack Adhesives business no longer fits within our product portfolio. Transferring adhesives and ink media activities to a new owner is the best way forward for the business. We are pleased that we have found a respected company to take over the business. This agreement is a good outcome for all stakeholders,” said BU managing director AB Ghosh.
Polytech is familiar with the portfolio and business as it has operated as toll manufacturer for the Pure-Flex Adhesives business for many years. This close association with the business will ensure a smooth transition for customers and transferring employees alike. The acquisition will see Polytech significantly expand its business portfolio into the food and industrial flexible packaging market and create an attractive platform for continuing growth.
“We are delighted to be able to bring the Pure-Flex Adhesives business into our portfolio of companies,” said Mark Dunkinson CEO of MRi-Polytech group. “The expertise of the transferring employees is renowned in the market place and the product portfolio is outstanding. We have strong synergies with our in-house capabilities and we look forward to being able to work with the transferring customers to build further on the existing relationship with the Business.”