C+K expands with acquisition of 'friendly' rival Speck Plastics

By Frank Antosiewicz
Correspondent

Published: June 10, 2014 4:44 pm ET
Updated: June 10, 2014 4:48 pm ET

Image By: C+K Plastics C+K Plastics installed a solar array at its plant in 2011. The panels provide about half of the company's energy needs.

Related to this story

Topics Mergers & Acquisitions, Thermoforming, United States

Thermoformer C+K Plastics recently purchased the assets and customer list of a former rival, Speck Plastics Inc. of Nazareth, Pa., and it has consolidated Speck’s operations into the C+K facility in Metuchen, N.J.

“It’s actually been a friendly competition for many years,” said Bob Carrier, owner of C+K Plastics, in a phone interview.

The association between the two companies goes back to before he and the owners of Speck were born, Carrier said.

“In 1961, his grandfather and father taught my father the business. They had a shop and back then they built their own machines so my dad went there to learn about the business,” Carrier said.

Carrier’s late father Emile, who was a salesman for General Tire, joined with another employee, Dan Koch, to form C+K in 1961.

He and Walter Speck III served on a Society of Plastics Engineers’ thermoforming board together years ago. When Speck and his sister Suzann decided to sell, they had a familiarity to base the conversation on.

Speck Plastics, which is about 65 miles from C+K’s Metuchen’s facility, has a long history of thermoforming. It started in 1954 in Port Washington, on Long Island, when Walter Speck Sr. and Walter Speck Jr. joined forces.

Most recently it was owned by the Speck family’s third generation — Walt III wanted to pursue a career as a pilot, but Suzann is joining C+K as one of its Mid-Atlantic sales people.

 Carrier said three members of Speck’s workforce will join C+K. He said the asset purchase included machinery and a customer list. He did not disclose details of the sale.

The Speck operation has been consolidated into the C+K’s 80,000-square-foot facility, which has six thermoforming machines including a 3-station Maac. The 8-foot-by-12-foot rotary machine was purchased at the end of 2012. The company also recently added two computer numerically controlled CMS routers.

Carrier said C+K has a diverse market base, making components that range from telecommunications for ships to hospital carts and commercial refrigeration components. Both companies did some work for Lockheed, but Speck has more aerospace and industrial work.

C+K employs about 90, and also has sister company, Valley Extrusions LLC in Allentown, Pa.

Carrier said that “business is booming” at C+K and noted that sales were 39 percent ahead of last year and that doesn’t include new business from the Speck purchase.

C+K is known for its 500 kilowatt solar system that it installed on its roof in 2011, and supplies about half of its energy needs.


Comments

C+K expands with acquisition of 'friendly' rival Speck Plastics

By Frank Antosiewicz
Correspondent

Published: June 10, 2014 4:44 pm ET
Updated: June 10, 2014 4:48 pm ET

Post Your Comments


Back to story


More stories

Image

Atkore expands in PVC conduit, buying American Pipe & Plastics

October 20, 2014 6:06 pm ET

Atkore International Inc. of Harvey, Ill., has acquired PVC conduit maker American Pipe & Plastics Inc. of Kirkwood, N.Y., which serves the...    More

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

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 Gr...    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