MENTOR, OHIO — Core Systems LLC has expanded its injection molding business and added tool building with the recent acquisition of Chagrin Plastic Methods of Mentor.
Core, also of Mentor, specializes in insert molding of parts for the appliance industry. Chagrin's expertise is precision, automated molding of Teflon fluoropolymers and other difficult-to-mold materials for valves, electrical components and consumer products, according to Core President Jim Glenn. Officials did not reveal terms of the deal.
Core runs 49 injection presses, with clamping forces of 25-1,000 tons, including seven vertical presses, at two plants in Mentor and one in Mount Gilead, Ohio, Glenn said in a telephone interview. It mainly molds engineering resins.
Chagrin has 10 all-electric presses in Mentor. Glenn said Core's sales are about $30 million a year. Chagrin's sales are lower but he declined to reveal them.
Glenn said his firm will keep Chagrin's management, including President Art Kohler, who will continue to manage Chagrin as Core's CPM division. Core has been serving the appliance industry for more than 40 years. Kohler has more than 30 years of experience in design, tooling and manufacturing.
Merger and acquisition specialist Stopol Business Services of Solon, Ohio, assisted Chagrin Plastic Methods in the transaction.