Window extruder Comptec Industries Ltd. of Vancouver, British Columbia, is furthering its foray into fabrication and extrusion machinery.
Comptec on April 7 announced plans to buy 62.5 percent of Actual Maschinenbau AG of Ansfelden/Haid Austria.
Actual and subsidiaries in the United States, United Kingdom, France and the Czech Republic make tooling, window-fabrication equipment and coextruders. Actual also designs and provides turnkey window fabrication facilities.
Comptec plans to issue US$1 million in stock to fund the purchase, and to provide Actual with US$6 million in operating funds through 1998.
During the next three years, Comptec will have options to buy first another 7.5 percent, then the remaining 30 percent of Actual.
Comptec entered the world of PVC windows in early 1997 when it bought the assets of BFN Vinyl Pacific Inc., a bankrupt extruder in Parksville, British Columbia.
The company quickly acquired a controlling share of another Austrian window machinery company, Technoplast Kunststofftechnik GmbH of Micheldorf, Germany.
Combining the two competitors will bring C$100 million (US$70.5 million) in machinery and tooling sales under Comptec's umbrella, according to a Comptec news release.
It also may bring higher prices on some equipment.
Actual and Technoplast were the only competitors in some areas, keeping both companies' margins low, Comptec said..
``As a result of this acquisition, Comptec, through the combination of Technoplast and Actual, is now one of the only two major players worldwide in this highly technical and specialized industry,'' Comptec President Robert Gardner said in the release.
Comptec is a public company trading on the Vancouver Stock Exchange. It also operates two injection molding plants: one in Surrey, British Columbia, and the other in Custer, Wash.