Ravago acquires elastomer maker G&E
ORLANDO, FLA. — Resin distribution leader Ravago Holdings America has acquired elastomer processor and trader Goldsmith & Eggleton Inc. The deal includes G&E's Reliable Polymer Services LP business.
Wadsworth, Ohio-based G&E reprocesses ethylene propylene diene monomer, styrene butadiene rubber and related products, and distributes wide-spec grades of some specialty polymers.
Reliable Polymer Services, based in Port Arthur, Texas, toll processes for makers of synthetic rubber and makes its own line of reprocessed rubber. G&E and Reliable employ a total of 150.
No purchase price was disclosed in the deal. In a news release, RHA President James Duffy said the acquisitions “diversify RHA into a space where Ravago Europe is already a leading supplier.”
“We look forward to broadening Ravago's global reach in rubber, as it has in plastics,” he added.
Orlando-based RHA is a unit of Ravago SA of Brussels. The firm bought resin distributor and compounder Amco Plastic Materials Inc. late last year. It also owns H. Muehlstein & Co. Inc., a leading North American resin distributor based in Wilton, Conn.
Polystrand expands into bigger facility
MONTROSE, COLO. — Polystrand Inc. is moving to a new plant near Denver and will begin making reinforcing tape there Sept. 1.
The 8-year-old firm is relocating from Montrose, more than 300 miles away. In spite of the distance, 32 employees are making the move with the firm. Polystrand expects to employ as many as 240 at the new 120,000-square-foot building in Douglas County.
The firm is gaining manufacturing space and moving closer to major transportation hubs in Denver, CEO Mike Gordon said in an Aug. 6 news release. President Ed Pipel claims the new facility will be the “largest of its kind in the world.”
Polystrand's reinforcing tape is made from composites based on polypropylene and other thermoplastic resins, which are combined with structural fibers. Markets include transportation, aerospace, automotive and military/ballistic.
The firm will transfer some machinery from Montrose and will install some new machinery, said a company spokesman.
Parent Gordon Holdings Inc. also is relocating its corporate headquarters to Douglas County, but will keep its Gordon Composites Inc. and InnoVoc Solutions businesses in Montrose.
Private equity buys into Grupo Phoenix
BOGOTÁ, COLOMBIA — One Equity Partners has acquired a minority stake in rigid packaging manufacturer Grupo Phoenix.
The New York private equity firm agreed to make a “significant equity investment” to support Phoenix's growth plan.
According to a new release, the investment will give Bogotá-based Phoenix the opportunity to strengthen its presence in new geographies, without losing control and management of the operation, and allow it to invest in new technologies.
Phoenix has 10 manufacturing sites in North and South America. Last year, it opened its second U.S. plant, in Chandler, Ariz.
The company makes injection molded and thermoformed containers and other products, along with extruded barrier packaging, shrink sleeves and foil lidding.
OEP is the private investment arm of JPMorgan Chase & Co.
Medical devices drive Diversified's growth
MINNEAPOLIS — Custom injection molder Diversified Plastics Inc. is increasing its manufacturing space by roughly 25 percent and adding a white room for medical manufacturing at its Minneapolis plant.
The plant has 16 presses, with clamping forces of 55-550 tons, and a Class 100,000 medical clean room. The firm is based in Minneapolis.
“Our business has been growing, specifically in medical-device components,” said Vice President Annette Lund. She expects the 10,000-square-foot addition to its 43,000-square-foot building to be completed within six months.
“This expansion gives us new white room space for recently purchased plastic injection molding equipment, more room for our assembly operations and additional space for quality control, tooling and our customers' kanban inventory,” she said.
Diversified makes close-tolerance components for medical and other markets. Two components the company molded from polyetheretherketone are on the NASA Juno space probe, which is on its way to the planet Jupiter.