Companies rarely put out news releases to say they're not for sale, but that's what happened today with Continental Structural Plastics Inc. The move was prompted by news reports from India that Sintex Industries Ltd. is preparing to buy CSP. "I have received reports today that Sintex Industries had offered to acquire CSP. We have not had any discussions regarding selling CSP to Sintex and to set the record straight, CSP is not for sale," CSP CEO Bruce Landino said in the news release. "With the significant increase in steel prices and the cost of fuel, we are growing our revenues and expanding the products we produce. We are focused on continuing to grow our presence not only in the auto sector, but also in the housing and HVAC and industrial sectors." Another report from India later clarified that Sintex is looking to make an acquisition in Europe or North America, but that the company was not commenting on specific potential deals. Sintex has been active in North America in recent months, first buying Wausaukee Composites Inc., and then the assets of Pla-Ma USA LLC.
Continental denies talks with Sintex
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