France's Actimed Group buys film and stock shape maker Westlake Plastics

By Frank Esposito
Senior Staff Reporter

Published: June 4, 2013 4:20 pm ET
Updated: June 4, 2013 4:23 pm ET

Related to this story

Topics Medical, Mergers & Acquisitions, Film & Sheet

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.


Comments

France's Actimed Group buys film and stock shape maker Westlake Plastics

By Frank Esposito
Senior Staff Reporter

Published: June 4, 2013 4:20 pm ET
Updated: June 4, 2013 4:23 pm ET

Post Your Comments


Back to story


More stories

Image

OnePlastics Group brand created to cover seven different plastics firms

October 17, 2014 9:48 am ET

A Dublin-based company is launching a new brand to unify its plastics businesses into a single entity called OnePlastics Group.    More

Image

PolyOne denies report it's bidding for Klöckner Pentaplast

October 16, 2014 11:44 am ET

UPDATED — Compounding leader PolyOne Corp. is denying a report that it bid as much as $2 billion for film and sheet major Klöckner Pentaplast...    More

Image

Pharmaceutic Litho & Label gets new private equity backing

October 15, 2014 2:41 pm ET

Ironwood Capital is making an investment in Pharmaceutic Litho & Label Co. Inc. in conjunction with an investment by Saugatuck Capital Co.    More

Image

Cosmo Films evaluating coating in US

October 14, 2014 6:00 am ET

Cosmo Films Ltd. may start chemical coating of films in the United States.    More

Image

Reusable bag is friendly both for the environment and local businesses

October 14, 2014 9:16 am ET

The Austrian city of Berndorf has made shopping more environmentally friendly and promote local businesses by introducing the Berndorf Bag, a bag cons...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events