Chem Polymer Corp. will get access to more compounding technology as a result of its parent firm buying a British compounder. The Fort Myers, Fla., firm will share technical know-how with Plastex International Ltd. of Cinderford, England, which was bought by BIP Group on April 28 for undisclosed terms. Chem Polymer already shares thermoplastic engineering compound technology with sister company ETP Ltd. of Oldbury, England.
Plastex compounds engineering polymers such as nylons, polycarbonate, ABS, polybutylene terephthalate and acetals. It had sales last year of about 7 million ($10.7 million).
Chem Polymer President John Lee said his firm, Plastex and ETP will maintain separate sales forces, but will share expertise. Plastex has not sold in North America and there are no plans to import its products here, Lee said in a telephone interview.
Chem Polymer mainly compounds nylons 6 and 6/6 but also works with other engineering resins.
Lee said Chem Polymer's QS 9000 certification should help its sister companies gain more automotive business. The firm is the only one in BIP Group with the auto industry standard. Plastex sells to electrical and automotive markets and emphasizes product development.
"Along with Chem Polymer, we have particular strengths in formulation and production of high-specification thermoplastics, particulary nylon compounds," Keith Samson, BIP chairman and chief executive officer, said in a news release.
BIP had thermoplastic and thermoset compounds sales of 62 million ($94.8 million) last year. Its thermoplastics subsidiaries, Chem Polymer and ETP, sold a total of 45 million pounds of compounds in 1999.
Brian Bennett, former owner of Plastex, will continue with the operation as managing director.
BIP is majority owned by Advent International Corp. of Boston.
