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Sigma Plastics Group Announces Purchase of Filmtech Corp.
New Jersey - (September 1, 2005)
Sigma Plastics Group (Sigma) is pleased to announce the purchase of Filmtech Corp. (Filmtech) located in Allentown, Pennsylvania. Filmtech manufactures premium cast embossed films for the hygienic, industrial and consumer products markets.
Founded in 1985, Filmtech currently ships over 15 million lbs. of film annually and employs fifty people. The company manufactures both polyethylene and polypropylene products.
With 32 independent manufacturing facilities spread throughout the United States and Canada, Sigma Plastics Group offers one source for extruded polyethylene film and bags. The Sigma Group's annual production exceeds 1,000,000,000 lbs. of polyethelene per year.
Going forward, Alfred Teo will act as Chief Executive Officer and Chairman of Filmtech Corp. Earl Jaskol, one of the founders of Filmtech, will continue as President. Ralph Jiorle, the other cofounder, will remain as VP of Sales.
Alfred Teo, CEO of Sigma, said, "Filmtech is a good company with a good product and reputation in areas Sigma is looking to diversify into. Our partnership is an exciting one that also brings many synergies to the table."
Earl Jaskol was also enthusiastic about the prospects of Filmtech's future, "We are very pleased to be on board with Sigma, an industry leader.. Being part of a larger company will allow us access to extensive resources so that we can continue to grow our business."
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