Thermoformer PendaForm Co. is selling plastics extrusion and thermoforming equipment, among other assets, in an online auction following the closure of its facility in Bluffton, Ind., earlier this year.
PendaForm, a maker of thermoformed plastic truck bed liners and other accessories for aftermarket customers and automotive OEMs, announced the closing of its 86,000-square-foot plant in January after a strategic review of the business segment. The company, which is headquartered in New Concord, Ohio, laid off 75 employees, according to a company notice.
“All of the Bluffton, Ind., employees were offered employment at either of the two manufacturing facilities located in Portage, Wis., as well as relocation assistance and incentives,” PendaForm CEO John Brown said in an email.
Additionally, Brown said the sales, customer service and production at the Bluffton plant was transferred to its two Wisconsin facilities, where PendaForm has added new extrusion pelletizing lines and has plans for a sheet extrusion line.
“Proceeds from the auction will be used to acquire new equipment in Portage, Wis.,” Brown added.
The Bluffton facility specialized in extrusion, single- and twin-sheet thermoforming, robotic trimming and assembly for truck bed liners.
In 2014, Plastics News reported on a potential $4 million expansion at PendaForm's Bluffton facility that included relocating extrusion and thermoforming equipment from its now-closed facilities in Pekin, Indiana, and Byesville, Ohio, and creating roughly 50 jobs.
Last year, thermoformer TriEnda Holdings LLC, based in Portage, Wis., purchased PendaForm Co. for an undisclosed amount. Both TriEnda and PendaForm operate under parent company Kruger Brown Holdings LLC, which ranks No. 10 in Plastics News' North American thermoformers ranking.
Kruger Brown Holdings is run by TriEnda and PendaForm CEO John Brown and David Kruger, who is president of both companies. With the closing of the Bluffton plant, the company now has four thermoforming facilities in Wisconsin and Mexico. Kruger Brown Holdings reported global corporate sales of approximately $255 million in 2016.
Online bidding for the auction is now underway at www.soldtiger.com on equipment such as three- and four-station rotary thermoformers. A live auction is scheduled for Oct. 12 at 10:30 a.m. EST.
