Tunbridge Wells firm snapped up by US company
Plastique, an enterprise with headquarters in Tunbridge Wells, has been purchased by Thermoform Engineered Quality (TEQ) from Illinois.
Plastique had a workforce of 180 people in total. However, some of the employees were based in a Nottingham office, while other Plastique workers were located in a Polish factory.
John Lowe, a managing director in the Tunbridge Wells headquarters, said:
Lowe added that the two outfits had a lot in common with one another. He argued that the new arrangement could lead to fresh opportunities around the world.
When an organisation is bought by another firm, it can increase the demand for digital and premium business cards.
Plastique came into being over three decades ago. Since then, it has been a manufacturer of pulp packaging. Analysts might note that the move enables a push by TEQ to have a bigger impact within Europe.
Prior to the sale, the turnover of Plastique was estimated at about £25m. The amount TEQ paid for Plastique has not been disclosed. It is not known if there is the prospect of any redundancies in Tunbridge Wells as a result of the move, but a local spokesperson revealed that the mood music around the deal was positive.
Plastique had a workforce of 180 people in total. However, some of the employees were based in a Nottingham office, while other Plastique workers were located in a Polish factory.
John Lowe, a managing director in the Tunbridge Wells headquarters, said:
“Combining with TEQ provides the group with significant opportunities to accelerate growth of our existing portfolio of business and allows us to expand into a broader platform of new product development areas.”
Lowe added that the two outfits had a lot in common with one another. He argued that the new arrangement could lead to fresh opportunities around the world.
When an organisation is bought by another firm, it can increase the demand for digital and premium business cards.
Plastique came into being over three decades ago. Since then, it has been a manufacturer of pulp packaging. Analysts might note that the move enables a push by TEQ to have a bigger impact within Europe.
Prior to the sale, the turnover of Plastique was estimated at about £25m. The amount TEQ paid for Plastique has not been disclosed. It is not known if there is the prospect of any redundancies in Tunbridge Wells as a result of the move, but a local spokesperson revealed that the mood music around the deal was positive.