Intek Plastics Inc. is diversifying in its extruded profiles markets through the acquisition of customer assets and production tooling of Hall Manufacturing Corp.
Intek of Hastings, Minn., finalized the Hall purchase on July 16, according to Intek CEO Jill Hesselroth.
"The businesses combined are very solid and growing," Hesselroth said in a phone interview.
Intek has mainly relied on point-of-purchase displays and fenestration products like windows and doors but wants to offset the cyclical nature of those markets with new clients, she indicated.
Hall's customer list builds on Intek's stake in fenestration and POP markets but also adds lighting, refrigeration, marine, sporting goods and electrical tool markets.
"We have had double-digit growth in the past three and a half years," Hesselroth told Plastics News. She would not provide sales figures but did say Intek now has 235 employees, including personnel who moved from Hall's Ringwood, N.J., facility to Intek's Hawthorne, N.J., operation after the purchase.
Intek began its diversification drive before the Hall purchase with the introduction of new materials for extrusion. About 15 new materials have been added this year and last year, including composites. As well, it is doing more coextrusions. A polycarbonate/thermoplastic elastomer coextrusion is one example.
Intek will engage former Hall personnel to help with the transition. Intek and Hall are private companies, and Hesselroth declined to identify the owners. Intek was founded in 1961, and Hall was established in 1946.
Intek has focused on custom profile extrusion and fabrication for medium to large companies. Hall's business has been a mix of custom and standard extrusions. Intek's Minnesota operation makes most of the firm's fenestration products, while its New Jersey facility has focused on POP products.
Intek ranks No. 61 in the Plastics News survey of North American pipe, profile and tubing extruders, with estimated sales of $50 million.