ge capital&rsquos unit ge antares is providing 1.005bn to novolex, which will use the funds for the acquisition of packaging dynamics.ge antares assumes the role as an administrative agent for the latest funding, which is the first portion of a 1.3bn senior credit facility.in november, novolex and packaging dynamics have agreed to combine their operations to form a flexible packaging company with revenues of 1.9bn.the combined entity will operate 35 manufacturing plants in north america and a plastics recycling facility.ge antares managing director mike hynes said "novolex has made three successful, diversifying acquisitions since we started working with them in 2012."we&39re pleased to continue to support wind point and the novolex team&39s vision to build the market leader in flexible packaging."novolex operates under the duro bag, fortune plastics, and hilex poly brands.packaging dynamics produces flexible, paperbased food packaging products, including bags, sheets and wraps, interfolded tissue, pan liners and freezerbutcher paper products.
