HUDSON, OHIO (Nov. 19, 5 p.m. ET) — Rapra Ltd. U.S. will close its doors Dec. 31, less than two years after opening its office in Hudson, Ohio.

In its brief existence, Rapra Ltd. U.S. was a non-profit economic development group for the polymer industry. Group officials said in a Nov. 16 news release that the closing was the result of “an unexpected loss of funding.”

The decision to close “was made with deep regret at the loss of our ability to serve as a catalyst of private economic development and (as) implementation arm of so many groups,” they said.

Most recently, Rapra Ltd. U.S. hosted a Global Polymer Innovation Expo in Columbus, Ohio, on Aug. 26-29. The event featured 35 exhibitors.

In the release, Rapra Ltd. U.S. President Laura Woods said the group “will live on in many ways,” including the collaborations, business deals, innovations and conference networking that it helped to create.

The group was part of Rapra Ltd., a global polymer innovation organization based in Telford, England.