Austrian flexible packaging supplier Schur Flexibles has acquired Italy-based sustainable and fully recyclable film producer Termoplast.
Termoplast’s 100% recyclable MDO-PE films feature an extremely low material thickness and excellent barrier and processing qualities for all printing technologies and special applications for industries, as well as the food, medical and pharmaceutical sectors.
Through its recycling company, Termoplast is making a valuable contribution to the 'zero waste' strategy and a circular economy, both during production and processing of post-industrial waste.
A new study by Australian non-profit, Minderoo Foundation has revealed that if high-level investors ceased backing the production of fossil-fuel plastics, the plastic pollution crisis around the world could be resolved.
Termoplast Product Portfolio
Termoplast’s product portfolio includes sustainable sealable, barrier and high-barrier films as well as peelable and reclosable films.
The family business reported around €50 million in revenue in its financial year 2020, producing an average of about 28,000 tonnes of film material per year.
The acquisition of Termoplast will enable Schur Flexibles to accelerate its expansion in Italy.
The former owners and the third generation of the family will stay on board as managing directors to ensure continuity.
The parties agreed to maintain confidentiality with respect to the purchase price.
Based in Wiener Neudorf, Schur Flexibles Group specialises in innovative, high-quality and tailor-made high-barrier packaging solutions for the food, flavour, medical and hygiene industries.
The group generates sales of around €590 million and has 23 production facilities in Europe.