Tekni-Plex to buy Mark IV garden hose business

SOMERVILLE, N.J. (Aug. 31)—Tekni-Plex Inc. has agreed to acquire substantially all of the garden hose business of Mark IV Industries. The terms of the purchase were not disclosed. The transaction is structured as an acquisition of substantially all of the assets of Mark IV's Swan Hose Division by a wholly-owned subsidiary of Tekni-Plex, Inc. Tekni-Plex is a global, diversified manufacturer of packaging, products and materials for the healthcare, consumer and food-packaging industries. The privately held company has 32 manufacturing facilities and about 2,900 full-time employees. The Dayco global fluid management business was placed on the selling block earlier this year.