Century Inc.'s extrusion unit has a new owner that should boost the twin-screw extruder maker's international presence.
CPM Holdings Inc. of Waterloo, Iowa, bought Century Extruders for undisclosed terms effective Jan. 17. CPM is a leading supplier of equipment for such processes as particle-size reduction and pellet agglomeration.
The new ownership will help Century Extruders follow its global customers around the world, according to Century Extruders President Bob Urtel. CPM's offshore locations include Wexford, Ireland; Amsterdam, the Netherlands; Wuxi, China; and Singapore.
``Our business got to the point where we need to take it to the next step,'' Urtel said in a telephone interview. ``This [CPM ownership] is the vehicle to do it.''
Century Extruders attempted to set up a connection in China in late 2004, but it was unable to finalize an agreement, Urtel recalled. Early stages of negotiation envisioned Nanjing Ruiya Polymer Processing Equipment Co. Ltd. using Century Extruders' engineering to make twin-screws for the world market.
Century Extruders is a major producer of twin-screw extruders for polymers, chemicals and food processing. The company stresses extruder manufacturing will remain in its hometown of Traverse City, Mich., and the management, operations, engineering, and sales and service teams will continue. Executives continuing with the company include Urtel and global sales manager Charlie Spearing. Industry veteran Asmut Kahns will stay on as a business adviser.
CPM has some service sharing agreements with the extruder maker's former parent, Century Inc., which has adjacent, continuing operations.
Century Inc. will focus on its core metal processing products such as mandrels, metal tubing dies and sheet-metal rolling equipment, Century Inc. Chairman William Janis noted in a news release. The products are sold to aircraft, energy, defense and specialty metal industries.
Century Extruders' staff of 85 will join the 330 employees in CPM's divisions. CPM's U.S. manufacturing plants are in Waterloo; St. Charles, Mo.; Merrimack, N.H.; and Crawfordsville, Ind.
``We plan to build upon Century's excellent sales, service, distribution and engineering capabilities,'' CPM President Ted Waitman said in a news release.
The addition of Century Extruder will broaden CPM's product line and help it lower costs.
CPM's Beta Raven unit provides process control and related technologies that fit Century Extruders' products, according to CPM sales manager Scott Anderson. Its California Pellet Mill division makes pellet mills, roller mills and similar equipment for food processing and other industries. It includes products used in wood-plastic composite production upstream of the extruder. The Roskamp Champion unit makes related equipment, such as steam chambers, hammer mills, rotary feeds, shredders and crushers.
Gilbert Global Equity of New York owns CPM, Anderson said in an interview. CPM's origins go back to 1883.