Ashland, Ohio-based rotational molder Hedstrom Plastics has purchased North Coast Custom Molding Inc., a small Ohio rotomolder marking Hedstrom's second acquisition in two years.
North Coast Custom Molding employs about a dozen people and runs three rotomolding machines at its plant in Carey, Ohio, according to Ashland President and CEO Jim Braeunig.
The deal comes about a year after Ball, Bounce and Sport Inc., which does business under the name Hedstrom Plastics, bought Diamond Plastics Inc. in Dunkirk, Ohio. Dunkirk is about 15 miles from Carey in northwestern Ohio.
This is only going to strengthen both Diamond and Hedstrom Plastics, Braeunig said.
He said that Hedstrom will not run the Carey factory. North Coast's traditional polyethylene rotomolding work will be moved to the nearby Diamond Plastics site. Hedstrom will move North Coast's vinyl plastisol work, used to rotomold pet toys and other flexible products, to its Ashland headquarters plant.
Most of the employees will transfer to our facility in Dunkirk, Braeunig said.
Hedstrom also will only take one of the rotomolding machines. We'll renovate one of the machines and get it up to our level of technology, he said.
Braeunig said the deal closed June 30. Terms were undisclosed.
The three owners of North Coast Custom Molding will work with Hedstrom. Ron Miller will work during a transition period, then plans to retire; Miller's son, Eric Miller, and Ken Wessler, have joined Hedstrom in sales positions, according to Braeunig.
Hedstrom is tied at No. 31 on Plastics News' ranking of North American rotomolders, with sales of $11 million.