IPG acquires Ohio-based Maiweave

MONTREAL — Intertape Polymer Group announced the acquisition of “substantially all” of the operating assets of Maiweave for total cash consideration of approximately $21 million. A private company based in Springfield, Ohio, Maiweave manufactures engineered coated polyolefin fabrics used in applications such as grain and salt pile covers, pit and pond liners, shelter fabrics, outdoor media and lumber mill packaging. It employs some 75 workers at two factories. “This acquisition,” said IPG CEO Greg Till, “is expected to provide us with an opportunity to consolidate a US-based engineered coated products manufacturer and expand the scale of our woven products offering.”