Page 44 - Plastics News August 2018

BUSINESS NEWS

Simona buys sheet extruder PMC Graham buys Nuconic Packaging

he Simona Group has acquired Premier Material ULYDWH LQYHVWPHQW ÀUP *UDKDP
TConcepts, LLC (PMC), in Findlay, Ohio. PMC is an PPartners is buying Nuconic
extrusion company specializing primarily in the manufacture Packaging LLC of Vernon, California
of plastic sheet products used in recreational vehicles, another maker of thermoformed
agricultural, and industrial applications. Focusing on packaging. This is Graham Partners’
attractive niche markets for thermoforming applications, third purchase of a thermoformed
PMC supplies high-performance plastics requiring specialist packager within the past year. The
VROXWLRQV DQG VLJQLÀFDQW PDWHULDOV H[SHUWLVH $PRQJ WKH terms of the deal have not been disclosed. Nuconic
key materials processed by the company are TPO, ABS, makes thermoformed PET packaging for the food
and combinations of vinyl and acrylic with ABS. PMC is industry, including containers and lids in a variety of
UHQRZQHG IRU LWV KLJKO\ ÁH[LEOH SURGXFWLRQ FDSDELOLWLHV shapes and sizes. “[Nuconic] has experienced strong
DQG LWV H[WHQVLYH LQ KRXVH H[SHUWLVH LQ WKH ÀHOG RI SURGXFW growth driven by a strategic market focus and strong
development. The company was owned by a private equity customer relationships,” said Adam Piatkowski, managing
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the leading manufacturers and development partners VLJQLÀFDQW V\QHUJLHV GXH WR WKH H[SDQGHG JHRJUDSKLF
of high quality thermoplastic products. SIMONA AMERICA coverage and capabilities of the combined platform.
has two operations, one in Newcomerstown and another Nuconic, with expertise in product and tool design, will
in Archbald, Pennsylvania. "PMC allows us to extend our offer a combined platform to deliver a wide range of
product offering and strengthens our position in the U.S. solutions to the market. Nuconic has decided to expand
plastics market. In addition, this acquisition gives us access WKH FRPELQHG FRPSDQ\·V IRRWSULQW WR WKH :HVW &RDVW D
to materials for thermoforming applications and underpins SRWHQWLDO NH\ JURZWK DUHD :LWK WKH QHZ LQYHVWPHQW DQG
our strategic Nuconic’s innovative approach and customer focus, [we]
ambitions when will be able to pursue our strategy to build a nationwide,
it comes to top tier, mid-sized packaging provider taking Tray-Pak and
diversifying our EasyPak along with it. Nuconic supplies thermoformed
sheet business." PET plastic packaging serving the food market that is a
said Larry complementary product of EasyPak and Tray-Pak.
Schorr, CEO of
SIMONA AMERICA
GROUP.
Welset divest its PVC business
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commitment as we continue to pursue our growth to Mitsubishi
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core competencies in extrusion and gives us access to agreement to divest its PVC compound business to the
QHZ PDWHULDOV DQG PDUNHWV :H DUH IXUWKHU H[WHQGLQJ globally acclaimed Mitsubishi Chemical Corporation
our position in the United States — the second-largest (MCC), Japan. This will provide Mitsubishi Chemical
individual market for the SIMONA Group — and are Corporation a platform that they were looking for to
diversifying our product portfolio. Our Group will continue expand its footprint in India. Paresh Mehta, Director,
on that strategic route. "Following the acquisition, we :HOVHW 3ODVW ([WUXVLRQ 3YW /WG ZRXOG DOVR EH RQ WKH
will be looking to build on the strong PMC brand and the Board of Directors of the Indian entity of Mitsubishi
FRPSDQ\ V H[FHOOHQW UHSXWDWLRQ LQ WKH 8 6 PDUNHW WKH Chemical Corporation for the PVC compounds and TPE
company will continue to operate as an independent EXVLQHVV 7KH FXVWRPHUV ZRXOG EHQHÀW VLJQLÀFDQWO\
entity under the SIMONA PMC name," said Dean Li, the
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QHZO\ DSSRLQWHG &(2 RI 6,021$ 30& :H DUH GHOLJKWHG WKDW 0&& ZRXOG EULQJ WR WKH 73( EXVLQHVV DQG :HOVHW
that PMC will now become an integral part of the SIMONA will continue to explore with MCC further business
IDPLO\ DQG ORRN IRUZDUG WR HYROYLQJ 30& V VXFFHVV VWRU\ DV opportunities.
we move forward together," Li added.

Plastics News August 2018 44