The US company Silgan has signed an agreement to acquire Weener Plastics.
 

Weener Plastics (WP), an internationally active manufacturer of dosing solutions for personal care, food and healthcare products headquartered in Ede, the Netherlands, and Silgan Holdings Inc., a provider of rigid packaging solutions for consumer goods based in Stamford, Connecticut, USA, have signed an agreement to acquire all shares of WP for a purchase price of 838 million euros. ‘We are excited about the opportunities this acquisition brings,’ says Adrian Whitfield, CEO of Weener Plastics. ‘By joining forces, we bring a new dynamic to our customer offering and can further capitalise on our extensive innovative, operational and technical expertise.’ According to Weener, the company employs around 4,700 people and has 23 production sites worldwide, including its own production technologies. In Germany, the company has two sites in Emsland.
 
According to WP and Silgan, the strategic takeover is to strengthen the market positions of both companies and create new opportunities for innovation and growth. Silgan's and WP's product portfolios are intended to complement each other, and the development of new products is also planned. Silgan expects to realise operational cost synergies of 20 million euros within 18 months of the completion of the planned acquisition. These are to be achieved through a combination of savings in purchasing, efficiency gains in production and other operational synergies. According to the information provided, the takeover still has to be approved by the regulatory authorities.
 
Sources:

• Press release Weener Plastics (24.7.2024)
• Plasticker (30.7.2024)
• www.wppg.de
• Photo: © Weener Plastics