Teknor Apex Co. owner Jon Fain said he's confident his company can succeed in the bioplastics arena and might be on the hunt for acquisitions as well.
In an interview at NPE2009, Fain said Teknor's move into bioplastics through licensing technology from Cerestech Inc. of Montreal and developing a range of bioplastics-based color concentrates with Telles of Lowell, Mass. is merely the latest step in Teknor's evolution.
We're custom compound-ers we're not making any of the products we made 85 years ago, Fain said of Teknor, which opened its doors in 1924.
What you do is what you are, and I feel good about our business, Fain added.
He said that the Pawtucket, R.I.-based firm considered several technologies before deciding Cerestech was the best available.
Cerestech is a better technology for us right now, but we're still looking at others, Fain said. With Cerestech, you can make thermoplastic starch and put it into a host polymer. That's a unique quality and one that appealed to us as custom compounders. It can be used in a variety of resins and you can control its loading levels.
As for growing the company, Fain said Teknor isn't pursuing purchases right now. But he added that the firm is looking for great companies with horrible balance sheets that could be in the same areas we're already in, but with better technology.
Teknor last made an acquisition in 2005, when it bought Chem Polymer Corp. in Fort Myers, Fla. In March 2009, Teknor sold the assets of its PVC colorant business to Breen Color Concentrates Inc.
At NPE, Teknor introduced new thermoplastic vulcanizate elastomers, being sold under the Telcar OBC name, that are based on Infuse-brand olefinic block copolymers licensed from Dow Chemical Co.
Teknor makes PVC compounds, thermoplastic elastomers, color concentrates and garden hose.
Its annual sales are estimated at more than $600 million.
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