Monday, February 9, 2009
McKINNEY, Texas--(BUSINESS WIRE)--Manner Plastics, LP is pleased to announce that it has acquired significantly all of the non-fixed flexible PVC compounding assets of PVC Compounders, LLC. The transaction closed on February 9, 2009.
PVC Compounders, LLC (flexible PVC division) had 2008 revenues of $34,000,000. Customers were served from manufacturing plants in El Paso, TX and Kendallville, IN. Manner will be consolidating production into its McKinney, TX facilities. According to Raj Bhargava, President of Manner Plastics, "Our facilities not only have best-in-class technology, but also the manufacturing capacity to support PVC Compounders’ customer base." In 2008, Manner completed its latest expansion. This resulted in 40,000,000 pounds of added capacity.
The acquisition will result in ten to twelve new positions in McKinney. A number of these positions will be filled from the current roster of PVC Compounders’ personnel.
"We take a long term approach to running our business. Over the last several years we have made steady, but conservative investments. Along with adding to our physical assets we have hired some very talented people. Coupled with our strong balance sheet, this positions us well for this economic downturn as well as the years ahead. We look forward to serving the customers of PVC Compounders. We are committed to earning their continued business." Bhargava stated.
Both companies serve wire & cable, profile extrusion, tubing & hose, and injection molding applications.
Manner Plastics is a privately held manufacturer of plastic compounds. The company was founded in 2000. The headquarters and manufacturing facility are located in McKinney, TX. For further information, contact Mike Quinn, 972-542-6789. www.mannerplastics.com
