PMC Group Inc. of Philadelphia has made a move into the engineered materials market by acquiring GTI Engineering of Kansas City, Mo.
PMC plans to rename the company PMC Engineered Plastics. Debtosh Chakrabarti has been named the new company's general manager, while former owner Greg Jacobson will remain as director of sales and marketing. Chakrabarti is the son of PMC owner Paritosh Chakrabarti.
GTI, which expects to post sales of $7 million this year, designs specialized, high-performance compounds based on polycarbonate, nylon, polypropylene, polyethylene and high-impact polystyrene. Top-end markets for those products include thermal and electrical uses in the automotive and computer industries.
GTI will continue to produce its product line in Kansas City. Some of its compounds also will be made by Polymer Products Co. Inc., a PMC-owned maker of flame-retardant and anti-static compounds in Stockertown, Pa.
A PMC spokeswoman said GTI no longer will use toll compounders for some of its products.
``Our two main platforms are specialty chemicals and plastics,'' the spokeswoman said. ``[GTI] is in a different market than some of our companies but it still revolves around plastics.''
PMC did not disclose terms of the deal. GTI has eight administrative employees in Kansas City; the spokeswoman could not provide the number of manufacturing employees.
Since 1994, PMC has grown to include five plastics and performance chemicals businesses in Pennsylvania, Nebraska, Massachusetts and Ontario. The overall company posted sales of about $100 million last year.
One of PMC's business units — PMC Film Canada Inc. of Tottenham, Ontario—was 135th in Plastics News' 1997 ranking of North American film and sheet manufacturers with $13.2 million in sales. PMC Group's holdings also include injection molders Pro Corp. of Florence, Mass., and Lenco Inc. of Waverly, Neb.
PMC's Pro Corp. unit includes Summit Plastic Solutions Inc. PMC bought Pro Corp. for $5.2 million in a bankruptcy hearing last October.