Teknor Apex Co. has added a second European location by acquiring compounder Plastic Technologie Service Marketing und Vertriebs GmbH (PTS) of Steinsfeld, Germany.
No purchase price was disclosed in an April 1 news release announcing the deal, which closed March 31. PTS has licensed materials from Pawtucket, R.I.-based Teknor for 15 years and last year began making Teknor materials on a tolling basis.
PTS products include compounds based on thermoplastic elastomers and engineering resins, such as nylon, polybutylene terephthalate and polycarbonate. Major end markets include automotive, electrical and consumer products.
In an April 1 phone interview, Teknor Apex President William Murray said PTS was one of the first companies that offered to assist Teknor after its plant in Oldbury, England, was struck by a devastating fire in April 2015. No one was injured in the blaze, but Teknor decided not to rebuild there and in August sold the plant's assets to Petlon Polymers Ltd.
Murray added that PTS “made a nice cultural fit” with Teknor, since both firms were family owned.