In the USA, Rexam's precision coating business unit - the Image Products division - is to be purchased for an undisclosed amount by Sun Capital Partners, a private investment firm of Boca Raton, Florida. Subject to regulatory clearance, the division will join Sun's portfolio of some 30 diverse companies with combined sales in excess of US$2 billion.
Robert W Champigny, president of Image Products, remarks: "Sun Capital offers us fresh, objective perspectives, particularly in the areas of strategic direction and asset management." Michael Kalb, Sun vp, adds: "We are excited to be acquiring the established leader in specialty coating and to be supporting the continued growth and prosperity of this dynamic company."
The acquisition includes six manufacturing facilities in the USA and UK, as well as sales and marketing offices and distribution locations in Australia, Europe, and North and South America.
