Whitmore Lake, Mich.-based RheTech Inc. announced that it completed an agreement to take full ownership of Blacksburg, S.C.-based RheTech Engineered Plastics.
Through the agreement, REP will become a wholly owned subsidiary of RheTech, which has been a majority partner in REP since 2012, according to a news release.
Financials of the agreement were not disclosed.
RheTech is a leading producer of reinforced polypropylene and color concentrates and additives for the automotive, truck, construction, electronics and consumer markets, and has three plants in Michigan and Ohio. REP produces a variety of engineered materials including prime, post-consumer and post-industrial nylon compounds.