Two to three years ago, the plastics processing landscape in the United States appeared to be a shambles, with almost weekly announcements of liquidations and equipment auctions. Some prognosticators even left a feeling that manufacturing in general had no future in the USA.
Business is far from booming now, but the mood is very different.
One evidence is the movement of large amounts of private equity capital into plastics processors serving the medical market. The biggest move was the acquisition of Phillips Plastics by Kohlberg & Co. early this year. Kohlberg is pumping money into Phillips, financing a major purchase in Europe. Now Phillips Plastics is shopping for an Asia acquisition....