WINONA, Minn. (Dec. 10, 2014) - RTP Company has announced the acquisition of three production facilities from Alloy Polymers, Inc. The three plants, located in Richmond, Virginia, Crockett, Texas, and Orange, Texas, will be merged with the previous RTP Company acquisition of Alloy Polymers’ Gahanna, Ohio, plant. Cary Street Partners LLC represented Alloy Polymers in both transactions. The group will be run as Alloy Polymers, Inc., a wholly owned subsidiary of RTP Company, and will be headquartered in Richmond, Virginia.
Long-time RTP Company executive Peter Ploumidis has been tapped to lead Alloy Polymers as president of the organization. “Alloy Polymers and RTP Company share a vision of serving customers as true partners and complement each other perfectly,” Ploumidis said. “Alloy Polymers will continue to provide high-volume compounding production services for contract manufacturers, and RTP Company will continue developing custom engineered thermoplastic compounds for molders and OEMs. Between the two, customers will benefit from a full spectrum of products and services designed to fit their specific needs.”
With a compounding capacity in excess of half a billion pounds annually, the Alloy Polymers’ facilities will strengthen RTP Company’s position in the high-volume contract manufacturing sector. “The addition of the Alloy Polymers’ facilities demonstrates RTP Company’s commitment to provide customers with the widest selection of compounding solutions,” said Hugh Miller, president and CEO of RTP Company.
Although terms of the agreement were not disclosed, Alloy Polymers employees were informed of the purchase, and business will continue as usual. Ploumidis, who has previously run subsidiaries for RTP Company, views the acquisition as an important step for both companies.
“Alloy Polymers has an excellent staff and tremendous capabilities. It is exciting to continue to build relationships and expand thermoplastic compounding solutions for both Alloy Polymers and RTP Company customers,” he said.
RTP Company is a global compounder of custom engineered thermoplastics.
Alloy Polymers, Inc., is a provider of specialty, value-added thermoplastic compounding services.