English
Pregis Corporation, a leading international manufacturer, marketer and supplier of protective packaging products and specialty packaging solutions, announced on Friday that it has acquired all of the outstanding share capital of Petroflax S.A., for approximately 12.0 million USD in cash, including estimated direct costs of the acquisition. Based in Romania, Petroflax is a leading producer and distributor of foam-based products. The company was established in 1994 and generated 2006 annual revenue of approximately 9 million USD.
"We are pleased to welcome Petroflax to the Pregis organization," commented Michael McDonnell, Pregis Corporation"s President and CEO. "The acquisition expands our strong Central European protective packaging operations and enhances our ability to serve our customers."
Pregis Corporation is a leading global provider of innovative protective, flexible, and foodservice packaging and hospital supply products. The specialty-packaging leader currently operates 45 facilities in 18 countries around the world. Pregis Corporation is a wholly owned subsidiary of Pregis Holding II Corporation.
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