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, Pipe/Profile/Tubing, Extrusion

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

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events