NEW YORK - Bellex Inc. sold its plastics division July 1 to Asahi Chemical Industries Co. Ltd. of Tokyo. Officials would not disclose terms of the agreement. Bellex is based in New York.
The Parsippany, N.J.-based division, renamed Sun Plastech Inc., had sold Asaclean, a purging compound made by Asahi Chemical.
That function will remain the same, and Asahi Chemical is investigating putting an Asaclean production facility in the United States in the near future, according to the company.
``Asahi wanted to create its own marketing and sales organization for its Asaclean product,'' said Sun Plastech sales manager Jack Spielberg.
The purging compounder is used by injection molders, blow molders, extruders and compounders.