Gloucester Engineering buys Pearl Technologies

By Michael Lauzon
Correspondent

Published: October 17, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Film & Sheet, Machinery

GLOUCESTER, MASS. (Oct. 17, 4:20 p.m. ET) — Extrusion equipment major Gloucester Engineering Co. Inc. has expanded its product line by acquiring Pearl Technologies Inc. of Savannah, N.Y.

Pearl engineers and makes consumable parts for converting and extrusion equipment. Its customized aftermarket parts like punches, slitters and wicket attachments improve performance and reduce operating costs, Gloucester said in an Oct. 17 news release issued from its Gloucester, Mass., head office.

Pearl also offers performance enhancers built with low-friction surface technology for extrusion equipment such as collapsing frames, liquid chilled bubble cages, pre-nip chillers, turning bars and advanced gusset boards.

“Pearl has consistently led with technically superior products and provided excellent service through its focus on design, engineering, customer service and product quality,” Gloucester CEO Mark Steele said in a news release. “Pearl’s products accelerate our growth in attractive aftermarket segments and extends [Gloucester’s] product reach further into converting, all of which will result in a more expansive product offering and improved customer service.”

Bob Tewksbury and Pearl’s management team will join Gloucester. Tewksbury has 22 years of experience in flexible packaging and blown film. He will continue to lead Pearl.

“Access to [Gloucester’s] significant global network will accelerate our growth, particularly in extrusion and international markets,” Tewksbury explained in a news release.

Pearl’s markets include medical and food packaging, and blown film producers. Gloucester said it will build upon and defend Pearl’s patented intellectual property.

The company was founded by Earl T. Pottorff in 1985, who has since retired.

Gloucester equipment is used to make film, sheet and foam for a range of applications around the world. Gloucester estimates its global installations represent more than $2 billion in operating assets.


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Gloucester Engineering buys Pearl Technologies

By Michael Lauzon
Correspondent

Published: October 17, 2012 6:00 am ET

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