Macfarlane Group Enters into USD2.8 Million Deal with Edward McNeil for Purchase of its Packaging Business

EUROPE: Macfarlane, which is a packaging distribution and label company entered into a deal with Edward McNeil Ltd. based in Glasgow for purchase of its packaging business. The deal is worth USD2.8million. It is expected that the packaging distribution product line of Edward McNeil would now be part of Macfarlane Group's packaging unit. The protective packaging material unit of Edward McNeil includes gift bags and polythene carriers. It is expected that Macfarlane will pay USD2.6million for the business in order to achieve certain working capital targets. According to Peter Atkinson, CEO of Macfarlane, the company after making deal with Edward McNeil would get benefit from their excellent customer services, thereby strengthening Macfarlane Packaging Distribution business based in Linwood and Scotland.

TechSci Research delineates that the expansion plans of Macfarlane Group would help the company in growing as a brand name across the globe. This would expand the company’s packaging and label business. The company’s position would be enhanced by this acquisition and major opportunities would be created especially in the mid-sized markets that have high margins and good growth prospects.

According to TechSci Research report “China PET and PBT Resins Market By Application, By Region, By Company Forecast & Opportunities, 2010 - 2020”, the PET & PBT resins market in China is projected to surpass USD11.6 billion by 2020. Polyethylene Terephthalate (PET) is a plastic polymer produced by reacting Purified Terephthalic Acid (PTA) & Monoethylene Glycol (MEG), whereas Polybutylene Terephthalate (PBT) is manufactured from PTA and BDO (1, 4-butanediol). These resins are used for manufacturing of plastic and plastic components, which have wide application in areas like bottling, packaging films, electronics and automotive components industry.