WESTMONT, ILL. — Jerico Plastics Industries Inc. of Akron, Ohio, acquired its first compounding operation Oct. 1.
Jerico bought Conex Plastic Industries Inc. of Greensboro, Ga., said Jerico President and co-owner Stephen Copeland. He disclosed the deal Oct. 6 at Rotoplas `97, the Association of Rotational Molders exhibition in Westmont, held during ARM's fall meeting.
Conex operates two extrusion lines and employs 30 at a 40,000-square-foot leased plant in Greensboro. Copeland declined to provide financial details of the deal.
Copeland and partner Roger King started Jerico early this year, supplying specialty compounds mainly to rotomolders. Both men formerly were with Akron-based A. Schulman Inc.
King said Jerico was having its materials toll-compounded at outside facilities. Though Conex does not target its compounds at rotomolding, Jerico plans to gear the operation that way, King said.
``Our intent is to grow Conex,'' Copeland said. ``It has room to easily put in two more extrusion lines.'' He pegged Conex's current compounding capacity at 10 million pounds a year.
Jerico employs five and recently added a technical director, who will help the firm develop new products, he said.
Jerico also has signed agreements with two sales representatives, C.D. Cisar & Associates Inc. of Pittsburgh and Schoerner Corp. of Carrollton, Ga.