In a deal the financial details of which were not disclosed, Dubai-based BOPP film manufacturer Taghleef Industries (TI, United Arab Emirates; www.ti-films.com) said it had reached an agreement to acquire US specialised oriented polypropylene (OPP) film producer AET Films (Wilmington, Delaware; www.aetfilms.com). The transaction still has to meet the relevant regulatory approval, but is expected to be completed by the end of Q2, TI said.

According to company reports, TI has a nominal global capacity for 260,000 t/y of BOPP, BOPLA and CPP films at its six worldwide manufacturing sites. Output is mostly earmarked for the snacks, confectionary, fresh produce and labelling sectors. AET, which reportedly can turn out 100,000 t/y of OPP films used mainly for food and non-food packaging applications, overcame a period of dire financial straits after filing for Chapter 11 creditor protection in 2004 – see Plasteurope.com of 19.08.2004.