Handshake
Keighley-based PFF Packaging Group Limited has announced the acquisition of Thermopak Limited in a deal that it says will increase production capacity by 30 percent.
The purchase of Thermopak’s 65,000 sq ft manufacturing facility, based in Gateshead, Tyne and Wear, will enable PFF, an independent manufacturer of packaging products for the food industry, to increase its extrusion production capacity by 8,000 tonnes, to a total of over 22,000 tonnes per year.
“The acquisition of Thermopak was a natural progression for us as there is a great deal of synergy within the two businesses,” explained PFF’s Group Managing Director, Andy Bairstow. “The extra capacity which the acquisition brings, combined with the capability to manufacture in a broad range of polymers, will allow us to significantly increase our market share within existing markets and expand into new areas.”
The North East plant, which currently has 70 employees, will be re-named PFF Packaging (North East) Limited, and operate as a wholly owned subsidiary of the PFF Packaging Group of companies. PFF has also announced plans for additional investment in infrastructure and new plant and equipment within the Gateshead facility in the course of 2015.