Fort Worth, Texas — Terry Kieffer sold Plastics Unlimited Inc., a thermoforming company in Preston, Iowa, to his sons Travis, 29, and Dakota Kieffer, 27.
Members of the Kieffer family, who had their roots in farming, founded Plastics Unlimited in 1993 and bought a composites fabrication firm the following year. Plastics Unlimited developed the patented process called TEC, or toolless engineering composites.
Both sons were active in the company.
"They both wanted to buy it," Terry Keiffer said at the Society of Plastics Engineers' Thermoforming Conference in Fort Worth. He now is chairman.
Travis Kieffer is on the board of directors of the SPE thermoforming division.