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Stock Market & Financial Investment News

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October 22, 2012
08:37 EDTAEPIAEP Industries purchases films business from Transco Plastics for $5.3M
AEP Industries announced that the company, along with its Canadian subsidiary, AEP Canada, has entered into an agreement with Transco Plastics Industries, a Quebec company, to purchase the machinery and equipment and related assets necessary to manufacture the performance films, specialty bags and industrial films of Transco. The transaction, which is expected to close within the next two weeks, has a purchase price of approximately $5.3M, excluding a one-year commission and transition service costs, and is expected to gain approximately $30M in annual net sales from Transco's former customers. AEP noted that it intends to relocate the manufacturing activities associated with the Transco businesses to its strategically located manufacturing sites throughout North America.
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