Thursday, March 5, 2020

News: API acquired out of administration


API Foils Europe has been acquired out of administration, a lifeline for the operations in Rotherham.

API Group, a leading manufacturer and distributor of foils, laminates and holographics, went into administration at the start of 2020, less than a year since it expanded into larger Rotherham facilities.

Aldus Pty Limited has acquired the business of API Foils Europe (excluding its Dutch and Asian subsidiaries) creating a new company called API Foilmakers Limited.

Aldus is an Australian company with operations throughout Australia, New Zealand, Malaysia and USA. Included in the group is Milford Astor Foilmakers, which manufactures foil in Australia and distributes it worldwide.

Headquartered in Poynton, API Group and subsidiaries previously operated in Livingston and Rotherham, employing over 200 staff.

The new company will be led by Will Oldham, who was managing director between 2012 and 2015, and key members of the existing senior management team. Oldham, said: "I am delighted to be back leading the API's European Foil business which has been at the forefront of quality graphic stamping foils for many years.

"Joining the Aldus Group will give our team the financial strength and support to ensure the we can continue to deliver the highest quality product to our customers across Europe and the world. We are particularly pleased to be restarting the Scottish manufacturing facility and ensuring the continuing operation of our distribution hubs across Europe, delivering 160 jobs."


Frank Floriano, CEO at Aldus, added: "API has long been viewed as a market leader in high quality foils and we were very pleased to acquire the business. We are committed to provide additional capital and support to ensure that API will continue to supply its existing customers and invest in the development of market leading products."

The group's materials provide exceptional brand enhancement for consumer goods and printed media worldwide. Products are used in packaging across a wide-range of industry sectors including premium drinks, confectionery, tobacco, perfumery, personal-care, cosmetics and healthcare.

Mark Gilbert, commercial director at API Foilmakers Limited, said: "We are delighted to be back in business and I would like to thank our customers for supporting all of our teams across our sites over the last few weeks and also those that helped us during the acquisition process. This support has just confirmed to us that this is a special business."

Taking an 18,000 sq ft warehouse and modern office space at Dinnington last year enabled API to create a new, larger UK sales and distribution facility.

Images: API Group


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