RTP Company buys production facilities from Alloy Polymers
In a bid to strengthen its position in the high-volume contract manufacturing sector, engineered thermoplastic compound supplier RTP Company has acquired three U.S. production facilities from compound maker Alloy Polymers Inc.
The three plants – located in Richmond, Va., Crockett, Tex., and Orange, Tex. – will be merged with the previous RTP Company acquisition of Alloy Polymers’ Gahanna, Ohio plant.
The plants have a compounding capacity in excess of half a billion pounds annually, RTP said.
The group will continue to be called Alloy Polymers Inc., but is now a wholly owned subsidiary of RTP Company, which is based in Winona, Minn. The group will be headquartered in Richmond, and RTP Company executive Peter Ploumidis has been tapped to lead Alloy Polymers as president of the organization.
“Alloy Polymers and RTP Company share a vision of serving customers as true partners, and complement each other perfectly,” Ploumidis said in a statement. “Alloy Polymers will continue to provide high-volume compounding production services for contract manufacturers, and RTP Company will continue developing custom engineered thermoplastic compounds for molders and OEMs. Between the two, customers will benefit from a full spectrum of products and services designed to fit their specific needs.”
The terms of the acquisition have not been disclosed.