Lauren Plastics acquires Iso-Trude

By Jennifer Kalish
Editorial Intern

Published: November 6, 2013 5:24 pm ET
Updated: November 7, 2013 2:08 pm ET

Related to this story

Topics Mergers & Acquisitions, Extrusion, Pipe/Profile/Tubing

Lauren Plastics LLC, a division of Lauren International Ltd., has acquired Iso-Trude Inc., an extrusion and engineering company out of Spring Lake, Mich.

"We've been experiencing a good amount of growth across all of our businesses, and we started looking at options to continue with that growth," said Chuck Laney, president of Lauren Plastics. "We found Iso-Trude and they met a lot of the criteria that would make it a viable candidate."

Lauren Plastics acquired the company as a way to continue sales growth in the plastic profile extrusion arena, Laney said. Another reason for the acquisition was to provide additional space for manufacturing.

Lauren Plastics currently operates out of a 52,000-square-foot facility in New Philadelphia, Ohio, which is shared among three businesses, Laney said. As part of the transition, Lauren Plastics will move its operations from its facility in New Philadelphia to Iso-Trude's 220,000-square-foot facility in Spring Lake.

"We'll be relocating lines and some employees from Ohio to Michigan," he said. "It'll be a great addition to the building that we have here in Michigan — we'll be able to fill it up and get a nice manufacturing base to continue to grow."

Laney expects job losses to be minimal throughout the transition, as most of the Ohio employees will be relocated or absorbed into Lauren's sister companies.

"We see it as a positive on both sides," Laney said. "On the Michigan side we've already begun hiring people for the eventual joint operations here. On the Ohio side we've seen, over a four to six month period, a zero to low number of job losses … because of our companies and the number of opportunities we have to absorb some of the great people we have."

Craig Janusz, vice president and co-owner of Iso-Trude, agrees that the move will be a positive step on both sides, citing Iso-Trude's high-end extrusion capabilities and Lauren Plastics' value-added processes.

Lauren Plastics expects to start the transition to Spring Lake in early 2014, Laney said. He did not have a projection for when the project will be finished. The combined companies will operate under the name Lauren Plastics LLC.


Comments

Lauren Plastics acquires Iso-Trude

By Jennifer Kalish
Editorial Intern

Published: November 6, 2013 5:24 pm ET
Updated: November 7, 2013 2:08 pm ET

Post Your Comments


Back to story


More stories

Image

RPC Group buying Iceland's Promens

November 27, 2014 8:46 am ET

In a major acquisition that combines two rigid packaging companies with international footprints, RPC Group plc has signed a 399 million euro ($497...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank Gr...    More

Market Reports

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

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 billion 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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events