French medical products firm Actimed Group has bought a majority stake in plastic film and stock shape maker Westlake Plastics Co. for $6.5 million.
Actimed and Lenni, Pa.-based Westlake Plastics have worked together for 30 years, with Actimed’s MTD unit serving as exclusive distributor for Westlake Plastics in Europe.
Westlake Plastics CEO Randy Altland will remain with the firm after the sale, officials said in a June 4 news release. Westlake “has been in a re-engineering effort the past two years, and now the business has the resources it needs to execute on critical manufacturing and invest in human resources,” Altland said in the release.
Westlake Plastics, founded in 1951, make shapes and film through compression molding and extrusion. Medical is one of the firm’s seven product groups. Westlake offers an industrial product line of rod, slab, film and sheet products.
Machinery industry veteran Michael Kirschnick also recently joined Westlake as national sales manager. He has 30 years of experience with Husky Injection Molding Systems Ltd. and Wittmann Battenfeld Inc.