TENNECO
Another big acquisition in packaging / Move into European PE film market
The US group Tenneco Packaging (2100 Sanders Road, Suite 300, Northbrook IL 60062 / USA) has made another dramatic move in the packaging sector with plans to purchase the plastic packaging activities of the Dutch group NV Koninklijke KNP BT (PO Box 87654, NL-1080 JS Amsterdam). The acquisition will move the group into the European polyethylene film market as well as strengthening its position in thermoforming where it already operates plant in the United Kingdom.
Tenneco has been aggressively building a strong position in various packaging sectors in the United States. In 1995 it acquired the plastics division of Mobil Corporation which gave it a leading position in stretch film with over 100,000 t of capacity. The group is also ranked the leading thermoforming operation there and further enhanced its position in August 1996 with the purchase of Amoco Foam Products Co. Within Europe it has been active in the UK sheet extrusion market since 1990 when it acquired Polbeath Packaging, a PVC thermoformer. This was followed in 1995 with the addition of Penlea Plastics and at the end of 1995 the group added Delyn Packaging to its fold. All of these businesses are primarily involved in high volume thermoformed food containers.
The sale by KNP BT comes as no surprise as it had already announced plans to divest its flexible packaging activities in order to concentrate on its waste paper-based transport packaging activities.. Last year it sold its polyethylene film operation Wentus Kunststoff GmbH to Clondalkin PLC (see Plasteurope.com 13, 1996). The operations it is to sell to Tenneco are mainly involved in flexible and protective packaging in Europe, North America and Egypt. The division employs some 3,000 people with net sales of approximately NLG 1bn. The European businesses include: PSG Pillo-Pak in the Netherlands; Jiffy Packaging and Ambassador Packaging in the United Kingdom; PSG Sentinel in Belgium and Germany; Airpack in Italy; Kobusch-Folien, Sengewald Verpackungen and Nordwest Verpackungen in Germany.
Tenneco has been aggressively building a strong position in various packaging sectors in the United States. In 1995 it acquired the plastics division of Mobil Corporation which gave it a leading position in stretch film with over 100,000 t of capacity. The group is also ranked the leading thermoforming operation there and further enhanced its position in August 1996 with the purchase of Amoco Foam Products Co. Within Europe it has been active in the UK sheet extrusion market since 1990 when it acquired Polbeath Packaging, a PVC thermoformer. This was followed in 1995 with the addition of Penlea Plastics and at the end of 1995 the group added Delyn Packaging to its fold. All of these businesses are primarily involved in high volume thermoformed food containers.
The sale by KNP BT comes as no surprise as it had already announced plans to divest its flexible packaging activities in order to concentrate on its waste paper-based transport packaging activities.. Last year it sold its polyethylene film operation Wentus Kunststoff GmbH to Clondalkin PLC (see Plasteurope.com 13, 1996). The operations it is to sell to Tenneco are mainly involved in flexible and protective packaging in Europe, North America and Egypt. The division employs some 3,000 people with net sales of approximately NLG 1bn. The European businesses include: PSG Pillo-Pak in the Netherlands; Jiffy Packaging and Ambassador Packaging in the United Kingdom; PSG Sentinel in Belgium and Germany; Airpack in Italy; Kobusch-Folien, Sengewald Verpackungen and Nordwest Verpackungen in Germany.
31.01.1997 Plasteurope.com [19589]
Published on 31.01.1997