Pliant: Acquisition of Uniplast
Films producer Pliant Corp., USA, has agreed to acquire Uniplast Holdings, Inc. for stock and cash valued at approximately US$55 million, including the assumption of approximately US$40 million of debt. Uniplast is a manufacturer of multi-layer packaging films, industrial films and cast-embossed films in the U.S. and Canada. The closing of the transaction is expected to occur on or before July 31, 2001 and is subject to government and bank approvals. The acquisition would give Pliant a total capacity of more than 1 billion lb of film per year.