Ontario resin supplier bought by U.S. coatings manufacturer
Canadian PlasticsEconomy Plastics Industry Economic Changes/Forecast
Resin producer HP Polymers Ltd., of Guelph, Ont., has been purchased by Whitford Worldwide, a U.S.-based fluoropolymer coatings manufacturer.
According to a news release, the deal was finalized earlier this month after HP’s former general manager Tom Peta retired at the end of 2010 and Whitford agreed to buy his shares.
The terms of the deal have not been disclosed.
Peta will stay on board part-time as a consultant.
David J. Senior has been appointed in his place, and heads an all-Canadian management team that also includes Glenn Beaton, who had already been working at HP Polymers as operations director.
Headquartered in Elverson, Pa., Whitford has manufacturing facilities in eight countries plus a network of agents in an additional 25 countries.
HP Polymers reported revenue of about $1,675,000 in 2010. The company employs a staff of approximately eight.