Custom molder Innatech LLC is making changes, with a new name and new operations.
The former Fickenscher America LLC just purchased Lebanon Plastics Inc. of Lebanon, Ohio, recently opened a new facility in Richmond, Ind., and has a new technical and corporate office in Rochester, Mich.
``We're still a pretty new company, but we've been successfully growing,'' said sales and marketing manager Mark Elder. ``We've had a lot of success with multimaterial, multishot molding.''
Fickenscher America launched in 1995, and Innatech adopted its new name in February 2002.
The company opened a 33,000-square-foot plant in Richmond late in 2001 and on May 7 completed the acquisition of Lebanon Plastics for an undisclosed price.
Innatech and Lebanon have a similar customer base, Elder said, with contracts for a variety of industries, including automotive and consumer goods.
Lebanon, founded in 1993 with 15 employees, now has 20 injection molding presses with clamping forces of 220-1,000 tons, said Martin Kelly, who has stepped down as president of Lebanon but continues as president of Kelly Holding Co., a management and investment consulting firm.
The business grew through the late 1990s, with the acquisition of Futura Plastics & Engineering Inc. in 1998. Operations from Futura in Louisville, Ky., were assimilated into Lebanon, Kelly said. Lebanon Plastics now has about 130 employees and annual sales of about $15 million.
The company needed to be bigger, though, to compete, he said. That meant either buying or being bought.
``That's the whole industry trend now: consolidation,'' Kelly said.
With Innatech, Lebanon will have a wider market reach and access to more technology. Plant manager Jeff Creigmile and the full staff will stay through the transition to the Michigan firm.
The new owner is reviewing the holdings in Ohio to determine exactly what Lebanon Plastics needs.
``Our facilities are state-of-the-art and we're figuring out what all needs to be done there,'' Elder said. ``We want to maximize their potential.''
