Polymeric Resources Corp., a materials maker in Wayne, has acquired a nylon resin and fiber production plant in Arnprior, Ontario.
PRC bought the plant for an undisclosed sum from Honeywell Nylon Canada Inc., a subsidiary of Honeywell International of Morristown, N.J. PRC made the transaction through its own Nylene Holdings Inc. unit.
Honeywell officials said the plant employs 290 and posted sales of $65 million in 2004. The sale is part of Honeywell's decision to sell its carpet fiber assets. Honeywell recently sold its U.S. carpet-fiber holdings to Shaw Industries.
Nylon resin produced in Arnprior is used in on-site fiber production and also is sold on the open market, Honeywell spokesman Rob Norman said.
PRC officials could not be reached for comment. The firm also owns and operates Custom Resins Inc., a nylon maker and compounder in Henderson, Ky.; and ALM Corp., an engineering resins compounder based in Wayne.
In June, PRC reported that sales in fiscal 2004 - which ended June 30, 2004 - were up almost 6 percent to $58.7 million when compared with the prior fiscal year. The firm also reported a 2004 profit of $601,000 - up almost 4 percent from the year-ago period.