01/30/2015

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Hexpol buys two compounders in the US market

RheTech has close to 50 years experience in the area of polymer compounding and is a provider of polyolefin compounds, engineered resins, and multifunctional colourants and additives. The company has four facilities (including manufacturing and laboratories) located in Whitmore Lake, MI (RheTech), Fowlerville, MI (RheTech), Sandusky, OH (RheTech Colors), and in Blacksburg, SC (RheTech Engineered Plastics). The company achieved a turnover of USD 117 million in 2013 and has around 212 employees.Furthermore, Hexpol has taken over the business of Portage Precision Polymers Inc. from the founder Doug Hartley and his family. The acquisition price amounts to approximately USD 13.2 million. Portage Precision Polymers was established in 2002 and today is a well-known rubber compounder in the US market. The company operates two manufacturing facilities in Ohio (Ravenna and Mogadore), USA, and had a turnover of USD 29 million in 2013. The Ravenna facility is not included in the transaction and its business will be transferred to other Hexpol facilities.

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