PlastiScience and DerriTech merging
SMYRNA, DEL. - PlastiScience LLC and DerriTech Consultants International are merging into one company that provides services from testing to consulting.
``We've occupied the same building but have operated as separate entities, but now we're consolidating to make it simpler,'' said Daniel Davidson, owner of both Smyrna companies.
He said PlastiScience started in 1999 as an independent, engineering plastics testing lab that could validate DerriTech's and other consultants' suggestions. Now, both units will be known as PlastiScience LLC. DerriTech had more than 30 years of experience in formulating, processing, testing and marketing engineering resin compounds.
The merger, Davidson said, will simplify product development and quicken the process of bringing products to the market.
PlastiScience offers twin-screw compounding, sample-test injection molding and property testing for safety and federal standards.
Davidson said one of PlastiScience's specialties is developing compounds and products that conform to Underwriters Laboratories standards. PlastiScience is a UL-certified agency. It also has an open contract with the federal supply arm of the General Services Administration, making it easier to deal with federal contracts.
Selenis purchases major stake in Volos
PORTALEGRE, PORTUGAL - Selenis SGPS SA has taken a step in its quest to become the European PET resin market leader with its purchase into producer Volos PET Industry SA of Volos, Greece.
Selenis acquired a 51 percent stake in VPI, worth 15 million euros ($18 million), from Frigoglass SAIC of Athens, Greece, in a deal completed in February. Portalegre-based Selenis already had polymer capacity in Portugal and Italy.
VPI, Greece's sole PET producer, has one plant with a 176 million-pound annual capacity.
In 2004, Frigoglass' PET division represented 22 percent of group sales and 8 percent of its profit. Frigoglass, which makes plastic packaging, glass and commercial refrigeration units, has plastic closures plants in Greece, Romania, Bulgaria and Nigeria.
The acquisition will give Selenis more than 1 billion pounds of annual capacity.