Schur Flexibles has acquired 100% of the shares Italy-based recyclable film manufacturer Termoplast S.r.L., in a deal that closed at the end of June 2021, according to the statement issued by the company. The acquisition will allow Schur Flexibles to further accelerate and grow its presence in the Italian market.
To ensure the continuity of the business after closing, the former owners and the third generation of the family will remain on board as managing directors. No financial details about the transaction were disclosed.
Termoplast, a producer of 100% recyclable MDO-PE films, is one of the pioneers of sustainable film production in Europe. Further to achieving its goal of “zero waste”, the company has established and operates its own recycling company, effectively putting the circular economy into practice – both during its own production and in the processing of post-industrial waste.
“Its entire production process is geared towards sustainability. It is truly a best practice example of the circular economy, whether with respect to innovations, its product portfolio, the recycling of post-industrial waste,” said Schur Flexibles CEO Michael Schernthaner.
Termoplast’s site at Gambassi Terme / Florence spans an area of 26,500 square metres. The well-equipped film manufacturing facilities produce a portfolio of products that includes sustainable sealable, barrier and high-barrier films as well as peelable and reclosable films. Its recyclable MDO-PE films feature an extremely low material thickness and excellent barrier and processing qualities. The company focuses on industrial customers, as well as the food, medical and pharmaceutical sectors.
Termplast is currently managed by a team comprised of second and third generation members of the owner family. The present managing directors, Salvino and Sandro Barnini, are pleased with the outcome of the deal, enabling them to continue supporting existing customers and their business operations in Europe and ‘pushing ahead with our clear focus on sustainability’.
“As part of a strong European group, we will also secure long-term, qualified jobs for our employees,” they added.
Termoplast reported annual revenues of approx. € 50 million in 2020, producing an average of about 28,000 tonnes of film material per year. The company recycles all waste from its own production operations at its recycling facility, where it also prepares plastic waste from across the region for further processing .
Based on its integrated value chain, from extrusion via printing and laminating to extensive bag and pouch making, Schur Flexibles Group, headquartered in Wiener Neudorf, Austria. the Group, generates annual sales, including Termoplast, of around EUR 590 million. Schur Flexibles connects approx. 2,200 employees and 23 production plants in Western and Eastern Europe. In 2020, Schur Flexibles joined the “50 Climate & Sustainability Leaders” initiative and the World Economic Forum’s CEO Action Group for the European Green Deal.