Raunheim, GERMANY, 18 June 2018 – Italian investor M&C, owner of Treofan Holdings GmbH, has successfully completed the sale of Treofan Group's Americas business to Canadian label manufacturer CCL Industries. All required regulatory approvals have been granted in the US and in Mexico.
Treofan America Inc., the sales company based in Winston-Salem, NC, as well as the production company in Zacapu, Mexico, which is held via Trespaphan Mexico Holdings GmbH, will transfer into CCL Industries' ownership on closing date July 2, 2018. Both companies will henceforth trade under the brand name Innovia. A total of approximately 300 people are employed at the two sites.
Comments Treofan Group's CEO, Dr. Walter Bickel: „We are delighted by the successful completion of this transaction. From now on we can fully concentrate on further developing our European production sites, and on continuing to grow our business particularly in the specialty films market."