AlliedSignal's Specialty Films business unit is entering the electronics packaging market with its proposed purchase of Gomar Manufacturing Co. Inc.
Terms of the transaction, expected to be finalized in several weeks, were not announced.
Gomar, a privately held company owned by Paul Marks, chief executive officer, and his grandson, Louis Friedman, chief operating officer, has annual sales of $50 million. It specializes in high-value applications for electronics packaging as well as specialty film products for aerospace, automotive, textile, decorative and medical markets.
The deal enhances AlliedSignal's technical capabilities, Marijn Dekkers, Specialty Films vice president and general manager, said in a news release.
Gomar uses proprietary coating, metalizing and laminating processes on any plastic film product, including nylon, PVC, polyethylene and polyester. The company employs about 90 at its operations and headquarters in Linden, N.J., and about 50 at its National Metallizing facility in Cranbury, N.J.
Discussions with Gomar began in March, Kenneth Berger, director of business development for AlliedSignal Specialty Films, said in a July 30 telephone interview. Initially, AlliedSignal approached Gomar to discuss projects.
AlliedSignal said it will retain Gomar's name as well as those of Gomar's National Metallizing and Gomar-National Industries divisions. AlliedSignal will continue to manufacture Gomar products at the Linden and Cranbury plants.
Friedman will join AlliedSignal Specialty Films as general manager of the Gomar operations.
The Specialty Films unit has facilities in Pottsville, Pa., and Elizabeth, N.J., and employs about 350. The firm produces fluoropolymer, nylon, biaxially oriented nylon and coextruded barrier films for the pharmaceutical, medical, food, specialty packaging and industrial markets.
The unit is headquartered in Morristown, N.J., and reported sales of $115 million for the year ended Dec. 31, 1995, placing it 44th in Plastics News' 1996 ranking of North American film and sheet manufacturers. AlliedSignal Inc. also is based in Morristown.