Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Sign Up Free
  • Login
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • K Show
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • Processor of the Year
    • Best Places to Work
    • Women Breaking the Mold
    • Rising Stars
    • Diversity
    • Most Interesting Social Media Accounts in Plastics
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • Pellets and Politics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • PN Live: Mergers and Acquisitions
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Resin Prices
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
March 28, 2019 02:00 AM

Injection molders Tulip, Richardson merge

Audrey LaForest
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Tulip Richardson Manufacturing LLC
    With the merger, the newy formed company boasts a manufacturing platform of more than 135 injection molding presses with clamping forces ranging from 10-1,100 tons.

    Injection molders Richardson Molding LLC and Tulip Molded Plastics Corp. have merged to form Tulip Richardson Manufacturing LLC.

    The merger was announced March 25. Terms were not disclosed.

    The newly formed organization is majority owned by private equity firms Owner Resource Group LLC and Shelton, Conn.-based Saugatuck Capital Co. Owner Resource Group of Austin, Texas, bought Richardson in 2017. Saugatuck Capital acquired Tulip in 2012.

    Going forward, TRM will be led by Tulip's Craig Kellogg as CEO and Richardson's Steve Dyer as president and chief operating officer.

    "These two companies, which formerly were competitors, share a lot of the same customer base, a lot of the same products, but the difference being Richardson was much more heavily concentrated with industrial business whereas Tulip was more concentrated with automotive," Kellogg said in a March 27 phone interview with Plastics News.

    Both companies participate broadly in the lead-acid battery industry, he said.

    "We're extremely excited about this opportunity," Dyer said during the call. "We've known each other in the market for many, many years. … I think there was some mutual admiration because we were competitors and we knew how good the other team was."

    Tulip molds polypropylene battery components as well as containers, covers, vents, handles and other parts for diverse industries such as automotive, commercial, defense, appliances and sporting goods. The company does custom molding and insert molding, and produces its own engineered resins. It also has a cold form division for manufacturing lead products, including ammunition, wire and battery terminals.

    Nearly 100 percent of lead-acid batteries are recycled in the United States. Tulip uses recycled battery plastic chips and the recycled lead to produce battery terminals, Kellogg said.

    Richardson primarily makes injection molded thermoplastic parts such as jars and covers for the lead-acid battery market.

    "The companies are very similar, and they fit well in the same space," Kellogg said.

    The combined operation brings TRM's manufacturing platform to four facilities in Columbus, Ind., which has been the headquarters for Richardson; Philadelphia, Miss.; Niagara Falls, N.Y.; and Milwaukee, with more than 135 injection molding machines ranging from 10-1,100 tons. Richardson's engineering center in Indianapolis will also remain in operation.

    Tulip Richardson Manufacturing LLC

    Tulip Richardson Manufacturing has four manufacturing facilities in Columbus, Ind.; Philadelphia, Miss.; Niagara Falls, N.Y.; and Milwaukee, Wis.

    Milwaukee, the former headquarters for Tulip, will be the headquarters for the combined company. The total employee headcount falls between 500-600, Kellogg said.

    "Combined with material synergies, customer synergies, two great teams coming together, we should be a lot quicker to market and be more efficient at what we want to do to be a better supplier to all of our customers," he said. "We want to be a supplier of choice."

    The company is in the process of executing a 100-day plan to better understand all aspects across the different facilities, including tools, equipment and customers. Leadership will also develop a future plan for the business during this transition.

    No major changes to the business are anticipated, Kellogg said.

    "Market changes may dictate changes up or down, but the merger itself will not," he added. "In fact, with the merger, we are going to focus on aggressive growth in the marketplace both in the lead-acid battery arena, where we have a large portion of our sales, and exterior to the lead-acid industry."

    In terms of the lead-acid battery industry, the automotive SLI (starting, lighting, ignition) battery business is growing at an annual rate of more than 2 percent, Kellogg said. The industrial side is projected to grow at a rate of 6-10 percent going forward.

    Dyer said the two companies also share the same core beliefs and values, which enhances cooperation across the combined organization.

    "One of our tenets is the relentless pursuit of continuous improvement in all aspects of our business," Dyer said. "Having this new team together with the synergy that we're uncovering and just the chemistry in the room in the first few days of this new relationship is exciting — new energy, new opportunities."

    RECOMMENDED FOR YOU
    NYX subsidiary invests $10.4M to expand Tennessee plant
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    Redline's ‘outrageous cultural behaviors' retain top employees
    2
    Cuts at KraussMaffei to spare US, assembly jobs
    3
    M. Holland, Lavergne strike deal on recycled resin distribution
    4
    K'Nex Brands sold to Florida-based toy company
    5
    PureCycle now planning April startup for PP recycling plant
    SIGN UP FOR OUR FREE NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Tire Business
    • Urethanes Technology
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • K Show
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • Processor of the Year
        • Best Places to Work
        • Women Breaking the Mold
        • Rising Stars
        • Diversity
        • Most Interesting Social Media Accounts in Plastics
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • Pellets and Politics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • PN Live: Mergers and Acquisitions
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Resin Prices
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified