Materials firm Kafrit Industries Ltd. of Israel has acquired ABSA Resin Technologies Inc., a compounder and recycler based in Cambridge, Ontario.
In a news release, officials with Kafrit in Negev said that the acquisition of ABSA "will add a complete line of filled and reinforced thermoplastic compounds, recycling capabilities and technical services, further expanding Kafrit's global presence and commitment to the North American market."
They added that all ABSA staff and management of ABSA will remain in place.
ABSA is led by President Mike Fink, Vice President of Sales Dan Dorscht and Vice President of Manufacturing Mike Gilpin.
Kafrit officials added that ABSA's customers "will also have access to a global portfolio of products and technical services to support continued growth and market expansion."
Kafrit was founded in 1973 and has been listed on the Tel Aviv Stock Exchange since 1993. The firm makes a wide range of compounds and color and additive concentrates. In 2018, Kafrit acquired Polyfil Corp., a maker of masterbatch concentrates based in Rockaway, N.J.