| |
By Frank Esposito
SENIOR STAFF REPORTER
Published: August 28, 2013 2:50 pm ET
Plastic film maker Bemis Associates Inc. has made its first compounding acquisition, buying PolyVisions Inc. of Manchester, Pa., for an undisclosed price.
PolyVisions employs 10 at a 25,000 square-foot plant in Manchester, making compounds and concentrates based on polyolefins, polyester and engineering resins on three twin-screw extrusion lines. Markets served by PolyVisions include packaging and healthcare, Bemis executive vice president Scott Howard said in an Aug. 28 phone interview.
PolyVisions co-owners Larry Bourland and Dave Altland — who founded the firm in 1986 — will remain with the company. Howard estimated PolyVision’s annual sales as less than $5 million.
Howard added that Shirley, Mass.-based Bemis — with two plants in Shirley and technical, sales and distribution centers in England and in Hong Kong — recently identified compounding as a growth area.
“The acquisition is mainly to diversify into new markets,” Howard said. “We want to focus in on highly engineered products for niche applications.”
He added that Bemis Associates is looking to grow its compounding business, either organically or through acquisition. The 103-year-old firm employs almost 400 worldwide, making specialty films and tapes based on polyolefins, nylon and polyester for numerous markets, including apparel, footwear, industrial products and consumer products.
Bemis Associates is not related to Sheboygan Falls, Wis.-based Bemis Manufacturing Co. or Neenah, Wis.-based Bemis Co. Inc. | |
