GUTTENBERG, N.J. — KTI Inc. followed its acquisition of a plastics recycling firm with the purchase of another company.
Guttenberg-based KTI acquired Manner Resin Inc., an Annapolis, Md., distributor and trader of post-industrial plastic, on Nov. 26 for 65,000 shares in KTI stock as well as incentive options to Manner's key personnel.
Manner Resin brokers high and low density polyethylene, PET, polypropylene, polystyrene and PET. The firm has 10 employees and annual sales of about $5 million.
On Nov. 22, KTI bought Timber Energy Investments, which included Tuscaloosa, Ala.-based Timber Plastic Recycling Inc.
Timber Plastic processes primarily LDPE, and has 25 employees.
KTI, a waste management firm, has 200 employees and annual sales of about $72 million.