Paper products maker Ox Industries Inc. has acquired Corex US LLC, a producer of tubes for plastic film, for an undisclosed price.
Officials with Hanover, Pa.-based Ox announced the deal in a Feb. 11 news release. Corex of Stevens Point, Wis., makes spiral wound tubes and cores. Ox officials said the deal adds high-strength paper core production technology for plastic film and paper mills to the firm's converted product line.
"The Stevens Point facility expands our converted products footprint in the Midwest, and we're adding a solid team to our organization," Ox CEO Kevin Hayward said in the release. "We welcome the employees and anticipate great things out of this facility."
Officials added that the Corex plant will be vertically integrated within the Ox paper mill network and will be immediately operational.
Ox ranks as the largest U.S. independently owned vertically integrated manufacturer of 100 percent recycled paperboard, specialty papers, paper tubes and related products. The firm operates four recycled paper mills and five vertically integrated converted products facilities in eight states and can make almost 500 million pounds of products annually.