The Combined Locks paper mill formerly home to Appleton Coated will begin doing business under the name “Midwest Paper Group”. The new entity was established by Industrial Assets and Maynards after their October 2017 purchase of substantially all the assets of Appleton Coated LLC. The company restarted the facility in December. After the purchase, Industrial Assets took note of the highly experienced and dedicated workforce and focused on upgrading the mill’s production capabilities and fiber handling systems. “We have a made a significant investment in this mill and community. We are grateful for our customers, vendors and the team onsite which has allowed the company to continue its tradition of producing some of the highest quality paper in the industry.” said Steve Mattes, CEO of Industrial Assets Corp. Click Read More below for additional information.
UPM Raflatac has signed an agreement to acquire AMC AG (Advanced Methods of Coating), a Germany-based company. This acquisition accelerates growth and expands the product offering of UPM Raflatac. Both parties have agreed not to disclose the purchase price or other transaction details. The transaction is expected to be closed latest in Q3, 2022. The closing of the acquisition is subject to regulatory approvals.
With this acquisition, UPM continues in its strategic path, adding to the organic growth in the attractive specialty packaging material value chain and strengthens the company’s transformation and long-term value creation in one of its three spearheads of growth.
AMC AG, founded in 1996 with roots going back to 1959 is a private company with long-term private owners. The company has two production sites Kaltenkirchen and Hagenow in Northern Germany. AMC’s business includes coating of pressure sensitive filmic labelstock and Viscom/Graphics materials under the Intercoat brand, and removable self-adhesive stationary products under the brand names Global Notes and Print Inform. The company employs more than 300 people and the latest financial year sales of AMC AG was EUR 110 million. UPM Raflatac expects to accelerate AMC’s growth and realize significant synergies.
“The acquisition will strengthen our position in Central Europe and expand our offering to new self-adhesive product lines. AMC’s capabilities and business portfolio are an excellent fit for us. The combination with UPM Raflatac’s efficient supply chain and sales and distribution network will enable further growth. We look forward to offering a stronger product portfolio to our current and new customers,” says Antti Jääskeläinen, Executive Vice President, UPM Raflatac.
“We are pleased to see AMC continuing to grow within UPM Raflatac family. We strongly believe that by combining our knowledge and capabilities with UPM Raflatac’s experience, we can provide even stronger benefits to our customers and a successful future for our employees,” say Wolfgang Leichner and Thomas Schwerdtfeger, shareholders and board members of AMC AG.