(PRESS RELEASE) Arjobex, a leader in the manufacturing of high-end sustainable synthetic paper under the brand name Polyart for the printing, tag and label markets, announces that it has acquired 100% shares of the MDV Group. The Krishna and Reichert families, prior owners of the MDV Group, were looking for a new investor to ensure the future of the company.
MDV is a niche manufacturer and coater of specialty papers and films for the print, packaging, medical, sign/display and building industries. It is the European market leader of fluorescent papers under the brand Fluolux, and a major player in the films and synthetic paper market with brands like Robuskin and Satinex.
With two coating facilities in Germany and one high-density polyethylene blown film manufacturing facility in the UK, this acquisition will greatly expand the Arjobex footprint in Europe—making it the leading European specialty coatings solutions provider for paper and films.
Arnaud Roussel, CEO of Arjobex, stated, “MDV perfectly fits the Arjobex core business of producing sustainable specialty substrates for niche and growing markets and will benefit from our strong international sales and marketing network in the US and Asia. “
“With Arjobex, we have found the ideal investor to make MDV group even more successful and international”, says Ashok Krishna, main shareholder of MDV.
“MDV is bringing its extended know-how in specialty coatings with over one thousand coating formulations and new coating capabilities that perfectly fit the Arjobex strategy of differentiation through specialty coatings for the graphic and label markets” shares Stéphane Daveau, Deputy CEO of the new group.
The new entity, with headquarters in France, will have a consolidated revenue of approximately 65M Euros with two hundred-eighty employees throughout six manufacturing sites in Europe and the United States.
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