The API Foils acquisition excludes API’s Dutch and Asian operations and will be named API Foilmakers Limited, with production soon to restart at the company’s factory in Livingston, Scotland.
Aldus is an Australian company that has manufactured Tronic label applicators and other equipment for 49 years with operations throughout Australia, New Zealand, Malaysia and USA. It also purchased Australian foil manufacturer and global distributor Milford Astor Foilmakers last year. This latest acquisition expands the company’s global footprint.
Last month the API group of companies, including API Americas which filed for Chapter 11 protection, were placed in administration (see HN February 2020) in January with the loss of over 100 jobs. This was due to the demise of the business related to changes in regulations, particularly around cigarette packaging rules, and loss of some major customers.
The new company API Foilmakers will be led by Will Oldham, who was the managing director of API Foils between 2012 and 2015.
Oldham said: ‘I am delighted to be back leading the API’s European foil business which has been at the forefront of quality graphic stamping foils for many years. Joining the Aldus Group will give our team the financial strength and support to ensure the we can continue to deliver the highest quality product to our customers across Europe and the world.’
‘We are particularly pleased to be restarting the Scottish manufacturing facility and ensuring the continuing operation of our distribution hubs across Europe, delivering 160 jobs, including more than 100 in Scotland.’
Aldus CEO Frank Floriano said API’s market leadership in producing high quality foils was one of the reasons for the acquisition. ‘We are committed to provide additional capital and support to ensure that API will continue to supply its existing customers and invest in the development of market leading products,’ he commented.
API Foilmakers Commercial Director Mark Gilbert added that work is underway to get production back to normal in its Livingston premises in Scotland.
In a separate announcement, the UK-based API Laminates business was acquired by JPF API Laminates UK Ltd. JPF API Laminates is owned by JPF Netherlands BV, which is the holding company for all the international businesses owned by BC Jindal group
Dino Kiriakopoulos, CEO, of the newly created company, said: ‘we are very pleased to announce the restart of API Laminates, which has been purchased by JPF API Laminates UK. I am extremely pleased to be re-joining the outstanding team at our Poynton factory, and being part of the group. With Europe’s largest installed transfer metallised lamination capacity, our market leading Transmet product provides a plastic free, recyclable solution for your packaging needs. Many thanks to our loyal customers for their support over these last difficult weeks.’
‘In these difficult times we wish you all the best of health and look forward to re-engaging with our customers, suppliers and the community very soon.’
As reported in last month’s Holography News, US sister company API Americas Inc, has filed for Chapter 11 protection.