Kafrit Industries, a leading producer of a wide range of masterbatches and compounds for the plastic industry, has completed the acquisition of a 51% stake in KS Holding AG, the holding company of Canadian polymer processing firm Silon Compounds Ltd. for NIS 7 million at a company value of NIS 14 million.

Kafrit said that the purchase is part of the group's strategy and will open the gates to the North American market with an estimated turnover of $30 billion. Silon Compounds which serves the plastic industry in North America has annual sales of NIS 35 million.

Kafrit has served the Israeli plastic industry and exported to well-known customers around the world for over 30 years.

Kafrit's activities involve supplying materials (masterbatches and compounds) to diverse markets in the world of plastics, including automotive, construction & infrastructure, agriculture, home appliances and toys, DIY, roofing & glazing, fibers, packaging and others.

Silon Compounds Ltd. is part of the international group, SILON Fibres and Compounds, active in the field of polymer processing. The company has been serving the North American market for Silane Cross-linkable PEX Compounds from Langley, British Columbia, in Canada since 2000.

Silon is the only worldwide Silane PEX-Compound supplier with production facilities in North America, Europe, and China. The company also features a Research and Development Institute in Europe, which offers customers individual solutions for their special needs.