MILTON KEYNES, ENGLAND (Aug. 24, 1:15 p.m. ET) – Specialty plastic and fiber company Filtrona plc has signed a deal to buy the assets and business of Reid Supply Co., a distributor of standard industrial components, including hardware, handles, clamps and fasteners.
Milton Keynes-based Filtrona will pay up to $32 million for the Muskegon, Mich., business. Filtrona said in an Aug. 24 news release that Reid Supply is “highly complementary” to Filtrona's Protection & Finishing Products division.
The Protection and Finishing Products division makes injection molded, dip molded, adhesive-coated foam and metal products, and has 40 operating units in 14 countries. Its plastics operations include Moss Plastic Parts, Skiffy, Alliance Plastics and Duraco Inc.