Captive Plastics Inc. of Piscataway, N.J., acquired the assets of Star Container Co. from Tech Group Inc. on July 16. Terms were not disclosed.
Captive Plastics will operate the Star facilities in Phoenix and Edinburgh, Ind., using mostly glycol-modified PET to injection stretch blow mold and blow mold stock and custom wide-mouth containers for food, beverage and household applications.
``The acquisition strengthens Captive Plastics' objective to become a full-service supplier of plastic containers and closures to the food market,'' John Raymonds, the buyer's chairman and chief executive officer, said in a statement.
Paul Ellis joined the Captive staff. He had been Star vice president and general manager under Tech Group.
Privately held Captive had 2000 sales of $87.4 million primarily in blow molding. Injection molding accounted for sales of $17.2 million, Jim Ness, corporate marketing manager, said by telephone. Star has annual sales of about $20 million.
Captive Plastics has existing manufacturing operations in Piscataway and Phillipsburg, N.J.; Peosta, Iowa; Louisville, Ky.; and Redlands, Calif., and owns a majority of PET Power BV in Etten-Leur, Netherlands.
Captive's services include design, engineering, tooling, decorating and assembly with principal markets in personal-and health-care, food and beverage niches.
Scottsdale, Ariz.-based Tech Group sold its Top Seal Corp. closure unit to Drug Plastics & Glass Co. Inc. of Boyertown, Pa., on March 30. Star Container and Top Seal constituted Tech Group's packaging division.
In November, Tech Group indicated plans to sell the businesses and retained a Phoenix investment banker to assist in the process.