Rchling acquires Canadian thermoplastics manufacturer
German plastic processor Rchling Engineering Plastics (REP) has announced its takeover of Symplastics Limited and ...
German plastic processor Rchling Engineering Plastics (REP) has announced its takeover of Symplastics Limited and Symplastics Inc., a Canadian manufacturer that specializes in making plastic rods, sheets and profiles.
The former privately owned company has 138 employees and operates two locations in Orangeville, Ont. and St Peters, Mo. Symplastics achieved a turnover of $26 million Canadian in the last year.
A statement issued by Rchlings U.S. subsidiary said the Canadian company was a great addition to the Rchling Groups portfolio. The groups CEO Ludger Bartels noted that the merger allows REP to increase its market share, and also improve reaction times and flexibility for its client base.
In an interview with Canadian Plastics, former Symplastics president Tom Deans said the merger is the best move for the two companies.
It was just a very good strategic fit for both parties, both from a product mix [perspective] and in terms of our ability to serve our customers going forward, Deans said. It allows us to provide a broader product mix on both sides of the border.
REPs North American subsidiary, which is based in Gaston, N.C., manufactures and supplies semi-finished products under the Polystone brand name. The U.S. organizations general manager Lewis Carter will serve as the president of the new acquisition, and Deans will continue with Symplastics in the role of chief operating officer. Deans also noted that Symplastics will still operate under its current name for now.
Symplastics’ offerings, such as the Spray Guard spray suppressant mud flap product line, Sym Mat step mats for trucks and Ramex UHMW-PE sheet (ultra high molecular weight polyethylene) and rod product lines, will be added to Rchlings portfolio.
The Canadian company has been in the industry since 1973, and specializes in the processing of UHMW-PE.
Symplastics is not REPs first acquisition in the North American market. The billion-dollar organization added the Cleveland, Ohio-based Glastic Corporation, a glass fibre reinforced plastics manufacturer, to its roster in January. With the acquisition of Symplastics Limited, the group now owns five plastics processing companies in North America.