Alloyd Co. Inc. of DeKalb, Ill., has acquired what it bills as the largest custom thermoforming company in Puerto Rico.
Alloyd bought Atlantic Thermoform Corp. of Juncos, Puerto Rico, on Sept. 26. Cost of the acquisition was not disclosed.
According to Dale A. Meyer, Alloyd's president and chief executive officer, Atlantic will retain its name and operations and become a division of Alloyd.
``The acquisition will expand Alloyd's customer base while significantly increasing our presence in the medical and electronics markets,'' Meyer said.
Atlantic also serves the personal-care packaging market.
Atlantic runs three buildings with about 40,000 square feet of space and 10 thermoforming lines and employs 100. Alloyd plans to add equipment and employees but would not disclose details.
Both firms thermoform PVC, glycol-modified PET and high-impact polystyrene.
According to Meyer, Atlantic had 1997 annual sales of about $10 million. It reported sales of $5 million for the fiscal year ended June 30, 1996, according to Plastics News' ranking of North American thermoformers.
Alloyd's thermoforming sales were $50 million in 1996, up from $44 million the year before, according to the ranking.
Alloyd also manufactures a line of packaging machinery. The firm reported corporate sales of $60 million last year. Its internal growth and acquisitions should boost that figure to nearly $90 million this year, according to the company.