Bonset buys Mitsubishi shrink-film business

BROWNS SUMMIT, N.C. (Feb. 16, 2:40 p.m. ET) -- Bonset America Corp of Browns Summit, N.C., on Jan. 29 acquired the Fusion co-polyester shrink film business of Mitsubishi Polyester Film Inc. of Greer, S.C.

According to a news release sent by Takashi Namba, Bonset’s director of corporate planning, the acquisition will make Bonset better able to offer high-quality heat shrinkable films with high production efficiency and quality.

In Plastics News’ most recent ranking, Bonset was 82nd among North American Film and sheet manufacturers, with an estimated $56 million in sales in 2008. Mitsubishi Polyester Film was ranked 41st, with 2008 sales of $170 million.

Bonset is a subsidiary of Tokyo-based C.I. Kasei Co., Ltd. a leading Japanese manufacturer of plastic formed products including heat shrinkable film, packaging materials, and decorative and agricultural film. Bonset’s heat-shrinkable films include PVC, glycol-modified PET and biaxially oriented polystyrene.

Mitsubishi Polyester Film is a U.S. division of Mitsubishi Plastics Inc. of Tokyo. It offers a wide array of polyester films for markets such as industrial labels and liners, energy and electronics.

Mitsubishi Plastics makes high-performance products including functional films, electronics materials, and industrial and construction materials.

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