Kite
Packaging is pleased to announce today the completion of a transaction
with the Administrators of Golden Valley Pallet Wrap Specialists in
which Kite has acquired the business, its goodwill and certain assets of
Golden Valley. As part of the deal Kite Packaging will not assume any
of the liabilities of Golden Valley
The
Golden Valley Pallet Wrap Specialists business will transfer to Kite’s
Coventry site, from which Kite will operate a specialist stretchfilm
unit. The employees of Golden Valley, who are joining Kite, are expected
to operate from Kite’s Coventry site by next week, at which time the
Golden Valley facility at Stonehouse, Gloucestershire will be closed.
Kite
Packaging’s customers are large users of stretchfilm, and the
acquisition of the business of Golden Valley will give Kite improved
technical expertise in this product, especially the new generation of
nano films.
Kite
will also now have the knowledge and resource to be able to do
comprehensive audits of stretchfilm use, and efficiencies for existing
and prospective customers.
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