Valfilm North America Inc., a wholly owned subsidiary of VALGROUP Packaging Solutions, recently announced the close of the purchase of The Dow Chemical Co.’s Polyolefin Films plant in Findlay, Ohio. Included in the acquisition are both the plant’s physical assets and the majority of intellectual property practiced at the facility.
Under the terms of the deal, Dow will continue to operate the plant through late January 2015, at which time it will cease production to allow Valfilm to take ownership and restart the facility in February. Both Dow and Valfilm have reportedly committed to work with customers of the Polyolefin Films business to ensure a smooth transition, and former Dow employees will have an opportunity to seek employment with Valfilm.
“The Findlay site is an attractive acquisition for us and will be a good fit for our growth strategy in North America,” said Carlo Bergamaschi, managing director of Valfilm, “We are committed to maintaining a close relationship with all of Findlay’s customers to ensure a smooth transition and support their current and future product needs.”