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Purchase of Hangzhou SNT to expand geographical scope.
April 30, 2010
By: Karen McIntyre
Clopay Plastic Products Company has signed a letter of intent to acquire Hangzhou SNT Absorbent Technology Co., Ltd., a Chinese manufacturer of perforated films and nonwovens located in Hangzhou, China. The transaction is contingent upon conclusion of the definitive agreements and approval of the applicable authorities. A Clopay spokesman stated that the company is excited about entering into new geographic and product market area and feels that there are strong synergies that can be leveraged between the two companies.
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