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NEWS
Local Plastics Firm Acquired By Equity Group
May 7, 2007

Klockner Pentaplast, an international plastics manufacturing company headquartered in Louisa County, has agreed to be bought for $1.8 billion by The Blackstone Group, one of the world’s largest private equity firms.

Klockner Pentaplast Group is a leading producer of rigid plastic films for pharmaceutical, medical device, food and electronic packaging. The firm employs more than 1,000 people in Virginia, with three facilities in Gordonsville and one in Rural Retreat.

According to Klockner Pentaplast Group spokeswoman Nancy Ryan, the change in ownership will have no effect on either the existing management team or current employees. “No changes are anticipated,” Ms. Ryan noted. “It’s business as usual.”

Ms. Ryan went on to say that Klockner Pentaplast Group would continue with its current expansion plans, including a facility in Thailand and equipment purchases for existing facilities in South America and Asia.

The sale is subject to regulatory approval. That decision is expected by June.


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