Risdon International Inc., a cosmetics packaging molder, has international expansion plans under its new Shanghai-based private-equity owner.
Earlier this year, Philadelphia-based Crown Holdings Inc. divested the injection and blow molded packaging maker and designer - its only remaining North American plastics business - to Teahouse Partners Ltd. of Shanghai.
A subcontractor now handles production for Watertown, Conn.-based Risdon in China, said Risdon President Stephen Pearlman in a telephone interview from China, where he was scouting for facilities to buy.
``Our goal is to have our own facility here, within the first half of 2007,'' he said. ``There is a growing demand for our products [in China] because of growing consumer power.''
The expansion is a natural evolution for Risdon, whose customers include Estee Lauder, Almay, Elizabeth Arden and L'Oreal, Pearlman said. He added that Risdon needed a partner committed to expanding globally. Under Teahouse Partners, he said, Risdon found private investors who are committed to growing Risdon as a major packaging player and who are in it for the long run.
Although Risdon's first step will be to tackle Asia, the firm also plans to re-enter the European market. RPC Group plc of Higham Ferrers, England, bought Risdon's European business last year. But Pearlman said Risdon will set up another European office, this year, to pursue sales and evaluate manufacturing options.
The company also has doubled its space in Reynosa, Mexico, adding a second facility for assembly and finishing operations.
Pearlman said Risdon's plants in Watertown; Middletown, N.Y.; Laconia, N.H.; and Barrie, Ontario, should not be affected by the acquisition.
``There is no immediate plan to close any of those facilities in the northeast,'' he said. ``We're going to fight very hard to have a manufacturing president in North America because, at this time, we are the sole major cosmetic packaging supplier that continues to maintain facilities in North America. And we believe very strongly that we should be close to filling operations.''
Pearlman will remain Risdon's president. James Adams is vice president of operations, and Faqueer Ahmad is international executive vice president.
Risdon had $90 million in 2005 sales, according to former parent Crown Holdings.