EnPro Industries Inc. is acquiring Amicon Plastics Inc., a Houston-based producer of fluoropolymer and engineered plastic components for semiconductor, pump and valve, oil field and other industries.
It is a cash deal, according to a news release from EnPro, and was scheduled to close the first week of July. Further terms were not disclosed.
Amicon employs about 75 in Houston and will be run under the umbrella of EnPro's Plastomer Technologies unit, which is based in Newton, Pa.
The Houston company operates in a 27,000-square-foot facility and currently is completing a refurbishing of the facility, which adds 5,000 square feet. It is ISO 9001:2000 certified. It does mostly machining and fabrication work.
``Amicon is a nice business for us. It will continue to reinforce and extend our business and give us access to new business,'' said Ken Walker, vice president and general manager of Plastomer Technologies.
He said the Amicon operation and management structure will not change.
``The affiliation with EnPro and the access to the resources of a larger company will help Amicon to become a stronger competitor and ensure the company's continued success,'' said Bob Brooks, Amicon chairman, in a news release.
Plastomer Technologies is a manufacturer of specialty polytetrafluoroethylene products and has a 50,000-square-foot facility in Houston, according to Walker. He said the companies will have some synergies but have different customer bases.
EnPro, a New York Stock Exchange-listed company based in Charlotte, N.C., operates in a variety of businesses, including sealing products and filament-wound bearings, compression systems, diesel and dual-fuel engines, as well as other engineered products.