PVC Container Corp. continues to bolster its blow molding operations with the acquisition of the issued and outstanding shares of Marpac Industries Inc.
Founded in 1967, Marpac has annual sales greater than $10 million. It operates plants in Ardmore, Okla., and Kingston, N.Y. Marpac serves the office machinery market with polypropylene and polyethylene bottles, containers, cartridges, double-wall cases, flexible spouts and dispensers.
The purchase price was not disclosed.
Headquartered in Kingston, Marpac employs about 95 and operates 22 blow molding machines. PVC Container said it plans to keep both plants.
``This diversifies PVC's manufacturing abilities,'' Ken Kallish, vice president and general manager of PVC Container, said in a telephone interview. ``Marpac operates lower-cavitation technical blow molding.''
PVC Container's traditional markets have been blow molding PET, PVC, high density PE and PP bottles for the toiletry, cosmetic and industrial and household chemical markets.
``The acquisition of Marpac fits well with PVC's plan to expand our base business by acquisitions as well as through internal growth,'' Phillip Friedman, PVC president and chief executive officer, said in a news release. ``Marpac will be operated as a wholly owned subsidiary and will be managed as part of the company's specialty container business along with the Airopak Division.''
Airopak Corp. of Manchester, Pa., blow molds in-line fluorinated and untreated HDPE containers.
Earlier this year, PVC Container acquired McKechnie Plastic Packaging, adding capacity and capability to PVC Container's bottle operations. In addition, PVC Container's Novapak Corp. is in the midst of a $10 million expansion project aimed at increasing preform and blow molding capacity at its plants.
PVC Container, based in Eatontown, N.J., reported sales of about $70 million for the year ended June 30. In addition to the Novapak and Airopak subsidiaries, the firm operates Novatec Plastics Corp., a supplier of PVC compounds and specialty plastic alloys. The company's stock is traded on Nasdaq under the symbol PVCC.