Canadian General-Tower Ltd. (CGT), a global supplier of coated cloth and film products, has announced the acquisition of French-based Liancourt companies AlkorDraka Industries and Alkor Medical Tubing, both of which are plastics Specialized company in film formulation. CGT successfully acquired assets and retained employees of both companies. The new trade names for European companies will be effective immediately, namely CGT Alkor and CGT Medical Products.
With 60 years of experience in calendering, printing and laminating, Alkor has hired a team of skilled and dedicated employees and is recognized worldwide for its commitment to quality, technology and innovation.
As a supplier of high-quality swimming pool linings to CGT Europe, AlkorDraka Industries now covers eight business units: ceiling and wall decoration, window coatings, dance floor films, consumer product packaging, swimming pool linings, envelopes, film screens and various technical applications .
The acquisition of Alkor's medical tubing division will bring new potential to CGT, producing tubing and film products for the highly regulated medical industry.
CEO Craig Richardson said in a prepared statement: "This new development is an important strategic opportunity, and as we continue to achieve our global growth efforts, the future of CGT brings tremendous momentum. We The initial response from shareholders is very positive as CGT is investing people and capital in the European market to grow these newly acquired businesses. "
Richardson added: "To increase sales to our important customers in the industrial and automotive industries, this investment will increase our production capacity and geographic location, allowing us to continue serving our growing global customer base."
The acquisition will provide CGT with a business strategic base in Europe to celebrate its 150th anniversary this year, adding to the company's existing portfolio in North America and China.