TORONTO — Moll Industries LP and Anchor Advanced Products Inc. have merged to create a new custom injection molding giant with 1997 sales of $415 million.
As previously reported, George Votis, Moll chairman and chief executive officer, bought Anchor Advanced in March and at that time had no immediate plan to merge it with Moll. After running Anchor for a few months, Moll officials saw benefits in combining the two molders, Votis said in a July 21 interview from Europe.
Moll's plants in North America and Europe provide ``common platforms'' for customers that shift work around the world. The combination also allows Moll to leverage technical capabilities throughout the operations as a full-service company.
The combined firms have 26 plants in the United States and Europe, including French custom molder and mold builder Somomeca Industries, acquired early this year, and European injection molder Hanning Plastics, bought by Moll in August. Votis said other acquisitions are imminent but he would not provide details.
He estimated the combined company, called Moll Industries Inc., had about two-thirds of its sales in North America last year. He claims it would have been the sixth-largest custom molder not dedicated to automotive molding, had it been included as a single entity in Plastics News' April ranking of North American injection molders. The bulk of Moll's remaining sales were in Europe.
The new Moll's major market is consumer products, which makes up about 27 percent of sales. Other key markets are telecommunications and business machines, appliances, automotive, medical and packaging.
Votis has no plan to close any of Moll's plants, which will continue with existing customers, he said.
Charles Schiele, who was president of Anchor Advanced, is president of the new firm. His previous experience includes a position as executive vice president of Alcoa Closure Systems International.