It’s full speed ahead for Kenosha, WI-based Xten Industries, as that custom injection molder purchased the assets of Paramount Plastics LLC in Lockport, IL. Founded in 1990, Paramount Plastics is an $18 million full-service injection molding company with 24 presses ranging from 60-2000 tons. While Paramount was founded as an automotive supplier for large-tonnage parts, the company also serves the industrial, consumer durable, health and fitness, and packaging markets as well, from its 122,000-ft2 facility.
Matthew Davidson, CEO and co-founder of Xten Industries, told PlasticsToday that his company had plans to expand its existing facility to accommodate two new 1500-ton presses. “That would have required new space, new cranes, and pouring thicker concrete floors,” Davidson told PlasticsToday. “While planning was underway, we were contacted by Paramount’s broker about a possible sale. Their available capacity matched up almost perfectly with our anticipated needs over the next three years. The rest is history.”