Global shipping conglomerate A.P. Moller-Maersk Group has sold three U.S. injection molding plants — part of Rosti Technical Plastics — to a management buyout group that includes the former owner, Jim McCalmont.
McCalmont Industries LLC now owns the factories in Dallas; Minden, La.; and Searcy, Ark. The company runs 70 injection presses, ranging in clamping force from 28-1,500 tons.
A.P. Moller-Maersk, based in Copenhagen, Denmark, announced the sale May 7. Terms were not disclosed.
The buyout marks a homecoming for McCalmont, who could not be reached for comment. He sold the company, then called Premier Molding Co., in 1997. A year-and-a-half ago, A.P. Moller-Maersk hired him back to run the U.S. plastics plants.
Then in March of this year, A.P. Moller-Maersk sold Rosti's injection molding plants in Europe, China and India to Stella Plastic Holding, part of Nordstjernan AB, a Swedish investment firm. Nordstjernan officials decided not to buy the three Rosti U.S. factories, which were renamed Premier Technical Plastics.
“After Nordstjernan recently waived its option to acquire the U.S. factories as well, we swiftly entered into negotiations with management aiming at an MBO agreement,” said Stig Hoffmeyer, senior vice president of A.P. Moller-Maersk, in a news release. “We have always been proud of having our U.S. teams in our group and are confident that this MBO agreement will lead to further growth.”
No details were available on the size of the management group or the financing.
In the news release, McCalmont said he is glad to be back. “Returning to the U.S. businesses over 18 months ago to management it through the impending recession, I was impressed to find an efficient, well-capitalized operation that has greatly benefited from its more than 13 years associated with A.P. Moller-Maersk,” he said.
During the last nine years, A.P. Moller-Maersk has divested 39 plastics production companies, following a strategy to focus on core business of shipping, energy and retail.
Even so, the Danish conglomerate will continue to own two PET bottle blow molding factories in Europe, known as Rostiprimpac.
Copyright 2010 Crain Communications Inc. All Rights Reserved.