Prolamina Acquires Packaging Dynamics Business Unit
LAKE FOREST, IL—August 2, 2011—Prolamina Corp. has signed a definitive acquisition agreement to acquire certain assets and a defined book of business from Packaging Dynamics, located in Kaukauna, WI. Financial terms of the transaction were not disclosed.
The acquisition will encompass Packaging Dynamics’ extrusion laminating, 10-color printing and converting business in Kaukauna, Wi. The additional customers and equipment will support Prolamina’s focus on the food and medical packaging markets and its growing business pipeline. In particular, it will allow Prolamina to quickly begin producing additional, unique products for its customers. Key members of the operating management staff of the Packaging Dynamics unit will join the Prolamina team. All of the acquired Packaging Dynamics equipment will be relocated into Prolamina’s new plant in Neenah, WI—making the new plant one of the largest and lowest cost operations in the packaging industry.
Harold Bevis, founder, chairman and CEO of Prolamina said, “This acquisition is good for both Prolamina and Packaging Dynamics. We are a specialist at this type of manufacturing and we will become even better. Likewise, Packaging Dynamics, through its Thilmany Papers business unit, is an expert at paper-making and we are entering into a supply agreement for a great source of quality papers.