The British Packaging Group RPC has agreed to buy the British Plastic Film Recycling Manufacturing Company BPI with 261 Million Pounds . This hard plastic packaging group hopes it will strengthen the European polyethylene film market operation, and it is also an important implementation of the 2020 strategic vision .
As one of Europe's largest waste polyethylene film processing company, BPI produces polyethylene film for all European companies, the annual output about 275,000 tons, supplying a wide range of markets, including agriculture, horticulture, industrial and consumer products, food and packaging and recycling products.
The Chief Executive Officer Vervaat Pim of RPC said in a statement: The acquisition of BPI represents that RPC has been won a great strategic opportunity through such a perfect platform to enter the European polyethylene film market .
This combination will further expands the RPC global polymer conversion technology, to build a strong cost synergy potential new growth platform, at the same time, further enhances the group's overall polymer purchasing power. Vervaat added.
BPI Chairman Cameron McLatchie said: BPI will benefit a lot from such a large group expansion in Europe. Shareholders will expand from the flow of funds to strengthen the benefit, employees have the opportunity to be a larger group, so BPI all agreed to the deal.
It is reported that this new acquisition deal is just the latest in a series of initiatives of RPC, previously they already had Global Closure Systems, M&H Plastics, Promens and Superfos to be one of theirs.