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Intertape Polymer Group Inc. (IPG®) announced the acquisition of RJM Manufacturing, Inc. (TaraTape), a manufacturer of filament and pressure-sensitive tapes.
TaraTape revenue for the most recently completed fiscal year was approximately $20 million. The purchase price of $11 million was financed with funds from IPG’s revolving credit facility.
“We believe this acquisition in the filament-tape industry will strengthen our market position mainly in filament tapes and provide many opportunities for operational synergies,” says Greg Yull, IPG’s president and CEO. “This is our second acquisition this year which affirms our commitment to create value for our shareholders through our mergers and acquisitions program. As previously indicated, we intend to continue our pursuit of other strategic opportunities.”
Intertape Polymer Group Inc. is a leader in the development, manufacture and sale of a variety of paper- and film-based pressure-sensitive and water-activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec, and Sarasota, Florida, the company employs approximately 1,950 employees with operations in 16 locations, including 11 manufacturing facilities in North America and one in Europe.
