Newcomerstown, OH Boltaron, announced today that it is exiting the rigid graphic arts and card markets, and has sold this film business including manufacturing equipment, proprietary technology, formulations, and trade names, to the Klöckner Pentaplast Group (Gordonsville, VA), for an undisclosed sum.
Boltaron will continue to operate the Newcomerstown, Ohio, facility for the production of film and heavy gauge sheet for aircraft, mass transit, and industrial applications.
"The transaction is strategic for Boltaron," explains Lawrence J. Schorr, Boltaron's CEO and principal owner. "It will enable Boltaron to focus its capital and technical resources on its core business. We are confident that customers will be well serviced by Klöckner Pentaplast, the leading global rigid film producer with over 40 years of manufacturing experience."
Michael Tubridy, President and COO of Klöckner Pentaplast/Americas said, "We are excited about the opportunity to work with Boltaron management and its customers to facilitate a smooth transition of the card and graphic arts film business. For Klöckner Pentaplast, this investment supports our strategic growth plan for 2010 and further demonstrates our continued commitment to servicing our core markets and customers."
About the Klöckner Pentaplast Group
The Klöckner Pentaplast Group is the world's leading producer of films for pharmaceutical, medical device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications. Founded in 1965 in Montabaur, Germany, Klöckner Pentaplast has grown from its initial facility to 19 current production operations in 11 countries.
The Klöckner Pentaplast Group is wholly owned by affiliates of The Blackstone Group. The company has sales of over $1.6 billion (Euro 1.1 billion) and employs more than 3,200 people committed to serving customers worldwide. For more information, visit the web site at kpfilms.com.
Boltaron is a leading international producer of PVC, PVC-alloy and CPVC film and sheet for thermoforming, fabricating and membrane pressing of aircraft interior components, rail/mass transit interior components and commercial/industrial components. The only US manufacturer with calendering, extrusion and press laminating under one roof, Boltaron produces high performance, monolithic and composite film and sheet products in 50 specialized grades in unlimited colors, patterns and textures, in gauges from 6 mil to 4 inches (10 cm).