Tigard, Ore.-based custom injection molder Poly-Cast Inc. is expanding its business, acquiring local rival Eastman Plastics Inc. of Beaverton, Ore., for an undisclosed price and boosting the size of its own main plant by more than 40 percent.
Poly-Cast acquired Eastman Plastics on March 31, according to Rick Thomas, vice president of sales and engineering at Poly-Cast. Thomas said that Eastman founder and President Dan Eastman now is working in technical sales for Poly-Cast and that his former company has become a separate subsidiary of Poly-Cast.
Poly-Cast is expanding its Tigard facility to 55,000 square feet and expects to complete the project by the end of June. The site now is 38,000 square feet.
Thomas said that what he calls the transportation sector accounts for about half of Poly-Cast's business. It includes parts for trucks, automobiles and consumer recreational vehicles, like all-terrain vehicles.
Poly-Cast also has seen an upsurge in medical and pharmaceutical work. Thomas said the work has doubled in each of the past two years.
Overall, Poly-Cast has about $6.5 million in sales, while Eastman has $1 million to $1.5 million.
``There's real fit between the two companies,'' said Thomas, noting in a telephone interview that they have similar cultures and focus.
He said the owners have known each other for quite awhile. Poly-Cast founder Walt Leedom, who is retired, had hired Eastman for a job years ago at Techtronics. Leedom's sons Dan and Dennis now own Poly-Cast and they also have worked on joint ventures with Eastman Plastics.
Eastman, 48, started his business when he was 23. He noted that a recession in the state had made it difficult for small companies and that teaming up with Poly-Cast could help both companies.
The combined companies will have a work force of 66, and 26 injection molding machines with clamping forces of 28-450 tons. Eight of those machines will be moved to Poly-Cast in the next few months.
Thomas said the Eastman division will concentrate on low- to midvolume runs, quick-turn prototyping and customer service/spares molding.
Poly-Cast, founded in 1972, is ISO 9001 certified and does film insert molding, overmolding and turnkey assembly operations.