And Thermal Care Inc of Conair group. company, would create a new power Center in the field of plastic heat transfer technology, company officials said.
In thermal technology, the two companies overlap, but the collection power engineers of both companies, will contribute to advances in plastics technology, IPEG Inc. company's CEO Chris Keller said. IPEG all company is Conair, will soon become new owner of Thermal Care company. After the merger the new company is expected to become the heavyweight roles in plastic heat control.
PEG Inc. company CEO Chris Keller
Keller said, "we have known Thermal Care company for many years, we believe that education at both the strategic and cultural fit well with us. "
IPEG in early April to buy Republic Machine Inc. later expanded its share in plastics auxiliary equipment in the field, which is a company based in United States, Kentucky, Louisville single shaft shredder manufacturer. Republic companies as a sector in Rapid Granulator AB company put into operation, the Rapid is IPEG's production company granulators and smaller high speed grinding machine subsidiary. Headquartered in Sweden Bredaryd Rapid company currently only produce single shaft shredder Granumatic, after the acquisition of Republic companies will add a wide range of Crusher series, including film, wood, rubber and medical waste in large machines.
Rapid CEO Kirk Winstead said, IPEG will retain Republic Machine Company's management, including its founder George Sotsky.
Terms of the deal were not disclosed.
Thermal Care, the acquisition is expected to close on April 30.
Keller said the IPEG recent acquisition need to be digested, but the company did not rule out the possibility of other acquisitions.
Thermal Care company is a large manufacturer, products include thermostats, portable and Central chillers, cooling towers and pump tanks, supply to plastics and other industries. Conair product line is similar. Keller declined to give two differences in technology.
Conair Corporation is headquartered in United States Cranberry town near Pittsburgh, and Thermal Care company will operate independently, but the two sides will share resources. IPEG Thermal Care of its wholly-owned subsidiary of the company will remain in the United States of Niles, Illinois production and office facilities.
And Conair Thermal Care have a similar water temperature control technology, but rarely competes in the same business area. Thermal Care business in North America to implement localization. Conair Corporation's business covers more globalization, but mainly in the United States. Rapid Granulator company a large percentage of sales overseas.
IPEG company acquired Thermal Care company, coincided with its emphasis on plastics machinery business, Keller said. Thermal Care the former owners of the company, a listed company MFRI Inc. said, their future will be focused on piping systems and filtration products.
President Larry Doyle, President of Conair, Conair and Thermal Care after the merger, has 20 full-time engineer engaged in work of heat transfer equipment.
Doyle said in a press release: "and this does not include systems and applications engineering staff. "Conair company had global sales and marketing Vice President of Doyle was promoted to President last year.
IPEG for it in the United States, and Sweden, China and India brand support. Thermal Care, the acquisition would allow it to open up more markets outside the plastic. Thermal Care of about half of the company's sales come from other 50 industries, including printing, laser cooling, heat treatment, casting, and optical coatings.
In Thermal Care company for 25 years, a former company sales and marketing Vice President TomBenson was appointed as the new President.
Apart from the single-shaft shredder, and Republic also designed a dedicated grinder for dealing with long plastic tubes, extrusions, carpet and plastic lumber. Split-A-Part of these products using a modular design, easy to clean and maintain mill, Zoidal cutting system is also used to prevent waste of film and fiber winding around the automatic, reducing wear on the cutting machine and cutting smaller tolerances. In North America, the mill will be sold through the Republic's existing sales and Rapid Sales Corporation and Conair Corporation sales channels worldwide.
Keywords: international news, , auxiliary equipment, Conair group
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