There's been a shake-up at the top at Colorite Polymers, a leading garden hose and medical-grade PVC compound maker based in Ridgefield, N.J.
Colorite President Robert Brookman resigned May 7 after nine years with the company. High-ranking executives Matt Drozdoff and Ted Blandy also have left in the past month.
Drozdoff was president of Colorite's plastics unit, which leads the U.S. market in garden hose production. Blandy was general manager of Colorite's specialty PVC resin unit, which produces 120 million pounds of resin annually at a plant in Burlington N.J.
The changes come less than eight months after Colorite's parent company, PureTec Corp., was acquired by Tekni-Plex Inc., a Somerville, N.J.-based laminations maker and polystyrene foam packager.
In a recent telephone interview, Brookman said he resigned because of ``a difference in business philosophy'' between himself and Colorite's new owners.
``Once the takeover occurred and I learned how [Tekni-Plex] wanted to run the business, I was uncomfortable with it,'' Brookman said.
Tekni-Plex spokesman William Walkowiak confirmed that Brookman, Drozdoff and Blandy no longer are with the company, but he declined to comment on their departures.
Brookman, who had served as Colorite's president since 1996, has accepted a position with Teknor Apex Co. of Pawtucket, R.I., where he will head the PVC compounds division. According to industry estimates, Teknor Apex ranks fourth among North American PVC compounders, with about 8 percent of the market.
Tekni-Plex, a privately held firm, acquired PureTec for $325 million in November. Although PureTec's annual sales of $345 million more than doubled Tekni-Plex's total, PureTec had posted combined operating losses of $11 million in the past two fiscal years.