GELPAC Completes the Strategic Acquisition of WBC Extrusion Products, Inc.

GELPAC, a Canadian high-performance packaging solutions announces the strategic acquisition of WBC EXTRUSION PRODUCTS, Inc., an American manufacturer of single-use blown polymer films for the food, industrial, automotive, medical and commercial packaging industries.

The WBC plant located in Haverhill, Massachusetts, is particularly recognized for the quality of its products. The fit with GELPAC's other poly plants located in Farnham, QC, and Brampton, ON, is natural as each unit is a strong performer in the industry and enjoys a well-deserved reputation.

"With this acquisition, we will strengthen our competitive position in North-America. By combining the strengths of the three plants and by integrating our respective R & D initiatives, on-going innovations to the manufacturing process and procurement strategies, we will offer the best performing poly solutions in the market" underlines Mr. Robillard, CEO of GELPAC.

For this acquisition, GELPAC relied on financing and strategic support from institutional investors, including CDPQ, le Fonds Manufacturier Québécois and Namakor.

The orderly transfer of ownership to ensure continued operations

"WBC owners and managers diligently worked at securing an orderly transfer of ownership of the company founded in 1979, in order to ensure the continuity of operations. We are pleased that they recognized the depth of GELPAC's commitment to the future of the company. The addition of this complementary production capacity to our comprehensive products portfolio will allow us to provide our North-American clients with even greater value. We look forward to working with the new members of our team to reach ever-higher levels of excellence" concludes Mr. Robillard.