Addex consolidates operations and launches new business strategy
New York-based company will no longer supply complete blown film lines; directs its focus on cooling, auto profile, and IBC controls.
Blown film system supplier Addex Inc. is consolidating its operations in the U.S. and launching a new business strategy.
Addex is closing its Stoughton, Mass. facility and expanding its headquarters in Newark, N.Y. in a move to streamline its operations. At the same time, the company announced the appointment of Robert Cree as president and Rick von Kraus as chairman of the board. Von Kraus will step down from his daily operational duties, but continue to serve in an advisory and consulting role.
“We’re excited that Bob has assumed a top leadership role and we’re confident that his energy and long-time experience in blown film will help Addex expand and maximize its industry-leading technology,” said von Kraus. Cree has been with Addex since its inception in 1989 and formerly served as executive vice president.
“The consolidation is an important step forward because it enables us to focus on what we do best, namely cooling technology,” Cree said. He added that the closing of the Stoughton operation will improve the company’s cost structure and overall financial position. Addex has exited the business of supplying complete blown film lines, but continues to service its previous products such as dies and oscillating haul-offs, by special customer request.
Addex has enlarged its Newark, N.Y. facility to concentrate on its core cooling technology business. The expansion includes the installation of a new lab line used to develop new high-performance cooling technologies and as well as performance and cost saving upgrades for its broad range of electronic control systems.
The Newark facility will have a total workforce of 15.
Addex manufactures components for blown film production, including high-output cooling, automatic and manual gauge controls, and internal bubble cooling control systems.