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, United States, Thermoforming

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

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Judge limits scope of jury verdict against JM Eagle

December 19, 2014 2:30 pm ET

A federal judge in Los Angeles said Dec. 18 that last year's jury verdict issued against J-M Manufacturing Co. — now JM Eagle — for...    More

Image

Jarden hiring for new plastics plant

December 19, 2014 1:45 pm ET

Consumer products conglomerate Jarden Corp. is hiring plastics technicians for a new operation in Erlanger, Ky.    More

Image

Antimicrobial polymers firm TiFiber launching pilot production in Ark.

December 19, 2014 10:58 am ET

TiFiber Inc., which makes synthetic compounds to control dangerous microorganisms, will locate a pilot production facility and its future company head...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

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