Holdings Inc. has entered the plastics business by acquiring the assets of an injection molder and a rotational molder early this month. The Kent, Wash., firm bought the equipment of McCawley Precision Machine Corp. of Kent and renamed the operation King Plastics Inc. King has 34 injection presses with 16-1,000 tons of clamping force and a tool-building shop. It also offers design, pad printing, sonic welding and packaging services.
The custom injection molder's main markets are storage containers, sporting goods, medical, electronic enclosures and various retail and commercial components and assemblies.
Holdings also bought the assets of U.S. Playgrounds Inc. of Auburn, Wash., and renamed the business U.S. Parks & Recreation Supply. The rotational molder makes plastic playground equipment for commercial and residential sales. Its product line includes the proprietary Play-on Crayon design, which features vertical posts that look like giant crayons. U.S. Parks also makes metal playground equipment for heavy-duty commercial use.
Holdings President George Maitland said King Plastics is starting out with annual sales of about $18 million and U.S. Parks sales now average about $1 million a year. He did not disclose terms of the deals.
Edward McCawley, former owner of McCawley Precision, will continue with the business for a short while. U.S. Playgrounds' former owner, Gary Bacon, will continue with the operation as president.
Maitland said the two new companies have combined space of 135,000 square feet in leased buildings.
Maitland, a major Holdings shareholder, said the firm's other main operating business is a network of drive-through coffee outlets.