A 57-year-old Cotswold paper and film company has been taken over by a German company for an undisclosed amount.
Cotek Papers, based in Moreton-in-Marsh, was acquired by Laufenberg, a manufacturer of silicone-coated films and papers.
Cotek is owned and run by brothers Adam and Scott Hazell, who have been advised by the Lodders law firm. The 51 employees will be transferred to Laufenberg as part of the agreement.
Paul Cattle, who worked as the Managing Director at Cotek Papers for several years, will become the Managing Director.
Graham Spalding, Lodders Corporate Partner, said: “The sale of the company to Laufenberg secures the future of the company for the benefit of its customers and employees, and we wish Jorg Soding and all Cotek team very successful for the future development of Cotek. . “
Cotek was incorporated in 1964 and produces silicone non-stick coatings on all types of paper and film, using solvent-free coating machines.
The company supplies tape and packaging manufacturers in the medical, graphic arts, automotive, personal hygiene and bag closures industries.
Laufenberg, which was founded in 1947, employs 230 people with key markets for their silicone-coated papers and films, including North America and Asia.
Jörg Soding, Managing Director of Laufenberg, added: “Britain has always been an important market for us.
“The addition of Cotek with its modern machines will significantly increase our position in the market and above all the possibility of coating inert UV silicones opens a new segment of innovative products.”
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