Aldus acquires API Foils Europe
Australian company Aldus has acquired foilmaker API Foils Europe (excluding its Dutch and Asian subsidiaries), creating a new company, API Foilmakers.
Aldus operates throughout Australasia, Malaysia, and the US, and includes Milford Astor Foilmakers, which manufactures foil in Australia, with worldwide distribution.
Frank Floriano, Aldus CEO, said, “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 new entity will be led by Will Oldham, who was API’s managing director between 2012 and 2015, then he was API’s chief commercial officer until 2018.
Oldham said API’s European foil business had 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,” he said.
“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, including more than 100 in Scotland.”
Mark Gilbert, API Foilmakers commercial director, said it would take some time until the company would be able to offer a full range of products. “We will communicate every step with our customers in all markets and work with them to mitigate any further disruption than is necessary,” he said.