Taghleef Industries Expands Latin American Presence with Acquisition of Biofilm
August 23, 2018Taghleef Industries (Ti), Lisa Holdings and Valorem S.A. today announced that they have reached an agreement for Taghleef to acquire Biofilm, one of Latin America’s leading producers of BOPP films for flexible packaging, labels and industrial applications. The transaction, which was approved by the Board of Directors of all parties, is subject to regulatory approval and is expected to close in the fourth quarter of 2018.
With this acquisition, Taghleef secures its position as a leading supplier of BOPP films in Latin America and throughout the world, increasing annual production capacity to more than 500,000 tons. With the addition of Cartagena, Colombia and Altamira, Mexico to its existing manufacturing sites in the US, Canada, Italy, Hungary, Spain, Egypt, U.A.E., Oman and Australia, Ti is geographically positioned to provide a consistent worldwide supply of specialty films, as well as proactive and responsive technical support to multinational and regional customers across six continents.