Boltaron Performance Products LLC is exiting the rigid graphic arts and card markets, and has sold its related film business to KlÃ¶ckner Pentaplast Group of Gordonsville, Va. Terms of the deal, announced May 3, were not disclosed.
Boltaron of Newcomerstown, Ohio, will continue to operate its plant for the production of film and heavy-gauge sheet for aircraft, mass transit, and industrial customers.
The sale of the film business is a strategic move, Boltaron owner and CEO Lawrence Schorr said in a May 3 news release.
It will enable Boltaron to focus its capital and technical resources on its core business, he said.
Boltaron manufactures PVC, PVC alloy and chlorinated PVC film and sheet for thermoforming, fabricating and membrane pressing of parts for aircraft interiors, rail and mass-transit interiors and commercial/industrial applications. With calendering, extrusion and press laminating under one roof, Boltaron produces high-performance monolithic and composite film and sheet products in 50 specialized grades.
According to Boltaron's website, the Newcomerstown facility was founded in 1954 as the Plastics Division of Sieberling Rubber Co. It became Seilon Inc. in 1964 and was subsequently purchased by General Tire & Rubber Co. in 1968. Through a cooperate reorganization in the late 1980s, General Tire was transformed into GenCorp. Inc. That firm retained the factory until 1995, when it was purchased by Empire Plastics, Inc. In 2004, a management ownership group acquired the operation and renamed it Boltaron Performance Products LLC.
Officials in 2007 invested $3 million to retrofit Boltaron's third calendering line, boosting its print-stock sheet capacity by at least 30 million pounds a year at the 175,000-square-foot facility.
Michael Tubridy, president and chief operating officer of KlÃ¶ckner Pentaplast/Americas, said in the release that KlÃ¶ckner Pentaplast will work to ensure a smooth transition for Boltaron's customers.
The KlÃ¶ckner Pentaplast Group makes films for pharmaceutical, medical-device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications.
Founded in 1965 in Montabaur, Germany, the firm has grown from its initial facility to 19 production operations in 11 countries.
The group is wholly owned by affiliates of Blackstone Group of New York. KlÃ¶ckner has annual sales of more than $1.6 billion and employs more than 3,200.
Chicago-based Blaige & Co. advised Boltaron on the deal.
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