Bayer Material buys Polythane Systems
PITTSBURGH - Bayer Material Science LLC of Pittsburgh has acquired Polythane Systems Inc., a maker of spray polyurethane foam roofing systems based in Spring, Texas.
No purchase price or annual sales estimate was disclosed. Bayer will operate PSI as part of its BaySystems North America LLC unit. The purchase includes PSI's Everest Coatings Inc. business, which makes acrylic elastomeric coatings and similar products. PSI employs a total of 31 at a site in Spring that houses both PSI and Everest.
PSI had been an exclusive supplier of roofing for GE Silicone, a unit of General Electric Co. PSI had made the roofing according to GE formulations.
Bayer PU marketing and business development leader Jerry MacCleary said the acquisition of PSI ``will give [Bayer] a significant entry into the commercial roofing business and other specialty markets.''
PSI Chief Executive Officer and co-owner Tom Sparks will remain with the company, officials said.
APW consolidating, but not plastics unit
ANAHEIM, CALIF. - APW Enclosure Systems Inc.'s plastics operations in Anaheim are not affected by consolidation of operations there, according to a spokeswoman.
APW is closing one of its two manufacturing plants in Anaheim, resulting in layoffs of about 66 people. The plants do a range of electronics and electrical assembly and enclosure manufacturing from plastics and sheet metal. Laid-off employees worked in the electronics and sheet-metal areas, said human resources manager Lupe Portillo in a telephone interview.
APW does injection and structural foam molding and machines plastics for some of its custom-made electronics enclosures. It also does injection molding at its plant in San Diego. It is a subsidiary of Hamilton, Bermuda-based APW Ltd., a supplier of electronic, electrical and electromechanical systems with 18 plants around the world.
Kadant gets buyer for deck board business
ACTON, MASS. - Paper company Kadant Inc. of Acton has a buyer for its composite deck board unit after holding an auction.
Officials would not disclose the buyer during an Aug. 4 conference call announcing second-quarter results, citing a confidentiality agreement.
Officials said they signed a letter of intent and now are handling due diligence.
Investment banker Matrix Capital Market Groups Inc. of Richmond, Va., handled the auction. The composite deck board business operates out of one facility in Green Bay, Wis.
Retlaw purchases 720-ton all-electric
HARTLAND, WIS. - Retlaw Industries Inc., a Hartland-based injection molder and mold maker, recently purchased a 720-ton, all-electric Niigata press, said Retlaw Vice President Mark Eberhardt in an Aug. 8 telephone interview.
The press is not part of an expansion, Eberhardt said, but ``an ongoing replacement of old equipment.''
The machine cost about $500,000 and joined the 18 other presses at the facility, four of which are all-electric. The company eventually wants all its presses to be all-electric models, Eberhardt said.
Retlaw's business is about two-thirds custom and one-third proprietary. The company sells pulleys and rebar chairs. It employs 35.
Walter Eberhardt is the president of Retlaw.