All of the stock in Transilwrap, the manufacturer/converter of coated plastic films and rigid plastics, has been sold to its nine-member senior management team, headed by company president Mark Stevens. The entire Transilwrap business in the US and its Canadian subsidiary is included.
“This arrangement provided for the ideal transition of the company to the next generation while causing no disruption to our employees or customers,” says Sabra Minkus, Transilwrap's executive vice president. The management group purchased the company from the founding families of Minkus and Herb Drower; both Minkus and Drower will remain employees and directors of the company.
“Transilwrap has a rich tradition as a leading manufacturer and converter”?and we want to ensure the future continuity of our business, and carry on in the way that has been so important to all of us,” says Mark Stevens. There will be no changes to existing management or day-to-day operations, he says, and the company's three major business groups remain unchanged–Transkote, Print, and Films. “As far as we're concerned, it's business as usual with the added security of a more stable future”?.”
Although the change in management officially took place earlier this year, management had not been prepared to make a statement until now. (Transilwrap: www.transilwrap.com)