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GE Capital, Corporate Finance today announced it is administrative agent on a $143 million cash flow credit facility for Taghleef Industries, a leading global producer of plastic and packaging films used for food, labeling and adhesive tapes. The financing was used to acquire Applied Extrusion Technologies (AET), a manufacturer of specialized packaging films. GE Capital Markets served as sole lead arranger and bookrunner.
Based in Dubai, UAE, Taghleef Industries is the world’s largest producer of biaxially oriented polypropylene (BoPP) packaging films, with six production sites around the world and distribution in more than 100 countries. Headquartered in Wilmington, DE, AET is a manufacturer of flexible packaging films for labeling, food and non-food applications. The company has production facilities in Terre Haute, IN and Varennes, Canada and research and development facilities in Newark, DE and Covington, VA.
“GE Capital provided the smart, flexible financing we needed to expand our company’s global footprint,” said Chandan Ghatak, CFO of Taghleef Industries. “GE’s knowledge of the U.S. debt capital markets helped us execute the acquisition.”
“We have a long history of financing growth companies in the plastics industry,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Providing asset-based and cash-flow financing that helps build middle-market businesses is our specialty.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; financial and business services; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Funding maybe provided through GE Capital, Corporate Finance’s affiliate, GE Capital Financial Inc.,member FDIC. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit gelending.com/clnews.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges.Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com
Jeff Wilson, 203-749-6340
GE Capital, Americas
Ned Reynolds, 203-229-5717
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