Taghleef Industries acquires Radici Film
by Lynne Nolan on Tuesday, 29 April 2008http://www.arabianbusiness.com/517831?tmpl=component&page=
Dubai-headquartered TI holds 50% equity in Shorko Australia and operates a dedicated warehousing and distribution centre in Germany.
The company manufactures BOPP and CPP films to the highest quality assurance standards, complying with strict environmental, safety and hygiene norms. TI’s new production line in Oman with a capacity of 35,000 tpa is coming on stream later this year.
Radici Film is the only BOPP packaging film manufacturer operating production sites in both Western and Eastern Europe.
Since its inception in 1989 the company has successfully positioned itself as an innovative player in the market offering value added and specialty film products to its customers. TI and Radici Film expect to integrate their activities over a period of twelve months.
In addition to market expansion in an environment of increasing capacity in the Middle East and Asian markets, TI recognises Radici Film’s strong technical capabilities as a key factor for the acquisition.
“Radici Film’s expertise, its strong technical and product development capabilities and their locations will benefit all our customers around the globe. TI is going global and we need to make our products available locally, regionally and globally to serve all of our customers’ needs worldwide” commented Rashid Al Ghurair, Chairman of Ti.
With this acquisition, TI emerges as one of the largest manufacturers of BOPP films in the world, with a combined annual film production capacity approximating 290,000 tons. With the objective of serving its growing export markets, Ti plans to boost its capacity.
According to Dr. Detlef Schuhmann, TI’s CEO, customers of Radici Film will benefit
“Two committed industry players with proven track-records join forces today. The match between Ti and Radici Film is a promising one and will create a new growth dynamic for all involved,” said Valerio Garzitto, CEO, Radici Film.