GE Capital Provides $143 Million in Financing to Taghleef Industries for
Acquisition of Applied Extrusion Technologies
NORWALK, Conn. -- June 15, 2012
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
“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
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GE Capital, Corporate Finance
Jeff Wilson, 203-749-6340
GE Capital, Americas
Ned Reynolds, 203-229-5717
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