Robert Janeczko has sold his majority stake in Innovative Injection Technologies Inc., the West Des Moines, Iowa, custom injection molder, to his son Josh Janeczko.
Robert had owned 51 percent of the company known as i2tech, and Josh had 49 percent. Josh Janeczko now is sole owner.
Robert will remain as chairman of the board of directors of i2tech, allowing him to be involved with strategic issues like expansion and acquisitions. He also will continue to serve on the Society of the Plastics Industry Inc.'s processors council.
“So the answer is no retirement parties of plastic watch at this time,” he joked.
Josh Janeczko said the company's operations will remain the same. “This is going to be a non-issue to our employees,” he said.
The father-son team bought the company, formerly known as Mid-Central Plastics Inc., in 2003. Josh Janeczko increased his ownership stake over the years.
“My intention from our very first day of business was to transfer the company to Joshua,” Robert Janeczko said. “In the past 11 years, he has served as quality manager, production manager, director of operations, general manager and most recently as our president. He is a very competent businessman with excellent leadership skills and I am confident he will continue to guide the company's award-winning strategies.”