Bulgaria's Plastchim-T acquires Italy's Manucor

The acquisition will create a strong supply chain platform across Europe, the Middle East and Africa, with potential for further expansion, Manucor said in a press release last week.

The financial terms of the transaction were not disclosed.

Additionally, the deal will boost joint manufacturing capacity to 200,000 tonnes annually and strengthen the logistics and distribution network in Europe, adding a scalable biaxially oriented polypropylene (BOPP) film volume.

BOPP film is used for packaging food, textiles, and other consumer products due to its barrier properties against moisture, oxygen, and chemicals, as well as its ability to be printed on for branding purposes.

"Manucor gives Plastchim-T matured capabilities and expertise in BOPP, self-adhesive and warp-around tapes and labels, and our system can create opportunities to grow our innovative sustainable packaging products worldwide. Enlarging our BOPP manufacturing capacity would be a pre-condition to further grow BOPE (bi-axially oriented polyethylene) - one of the few packaging film segments where we have a unique proposition with 100% recyclable eco-friendly film," Plastchim-T chief executive director Beyan Faik said.

Founded in 1987, Manucor has a portfolio of over 40 products, including BOPP films for packaging, tapes, wrap-around labels and self-adhesive labels. It operates a production and logistics centre in the Italian town of Sessa Aurunca with an annual capacity of 80,000 tonnes.

Plastchim-T is one of the leading privately owned European manufacturers of BOPP films, cast polypropylene films and flexible packaging products, serving more than 50 markets globally. The company has three production and logistics centres in Bulgaria, with a total annual capacity of 120,000 tonnes.