HOUSTON - On the heels of its merger with Wedco Technology Inc., ICO Inc. purchased Polymer Service Inc. July 22 for an undisclosed amount. Polymer Service operates one plant each in Beaumont, Texas, and East Chicago, Ind. Like Wedco, PSI grinds plastic pellets into powder and provides plastics processing services. PSI has 50 employees.
The acquired plants' locations and facilities complement those of Wedco, according to ICO Chairman Al Pacholder. Wedco offers size reduction, compounding and related services and equipment for the plastic industry. It also serves the petrochemical industry and others requiring powder.PSI had sales of $6 million last year.
ICO serves the energy industry by inspecting, reconditioning and coating new and used tubular goods and sucker rods used in oil and gas exploration.