Transilwrap acquires Dow Chemical’s global specialty films business
United States: Dow
Chemical Corporation, a US based chemicals manufacturer, has announced that it
would sell its specialty films business to Transilwrap Company, Inc., a
specialty film manufacturer, converter and distributor for a disclosed amount.
The contract would also include selling the company’s production facilities
located in Hebron, Ohio and Drusenheim. The company is indulged in the
manufacturing of polypropylene, polystyrene and polyethylene based films which
finds application in medical and packaging areas. They are used in the
manufacture of window envelope films, beverage closer liners, labels and
protective fabrics. In March 2015, the company had also acquired a Santa Rosa
based printable plastic film maker Clear Focus Imaging.
TechSci Research depicts
that this acquisition would further strengthen Transilwrap position in the
specialty films business in the industry as the Dow’s specialty films business
is well recognized for its technical expertise and brands globally.
According to TechSci Research report, “Saudi
Arabia Window Films Market Forecast and Opportunities, 2020”,
the window films market in Saudi Arabia is estimated to cross US$ 84 million in
2015. Growth in the market is anticipated on account of increasing privacy
concerns, rising purchasing power and growing automotive sales in the country.
Moreover, Saudi Arabian government is planning to pass an act that would allow
the country’s women to drive in the coming years.