Petlon Polymers Limited has completed the purchase of selected customer and product technology including the worldwide Beetle® engineering thermoplastic brand and certain manufacturing assets from Teknor Apex, the company announced today.
The acquisition has strengthened the position of Petlon Polymers as the largest independent compounder of engineering thermoplastics in the United Kingdom. Trent Ward, Chief Executive, stated that he is “delighted to conclude the deal with Teknor Apex which marks an exciting milestone in the expansion and development of the Petlon Polymers business???.
The acquisition follows a major fire which destroyed Teknor Apex’ UK plant in April 2015. As part of the deal, Petlon has welcomed onboard some former Teknor Apex employees including Mark Clayton, former UK Director of Teknor Apex who has been named as Petlon’s Managing Director and Steve Dunn, former ETP Sales & Marketing Director at Teknor Apex who has been appointed Petlon’s Sales Director.
In the coming months, Petlon will make a £1m investment in its Lydney UK facility in state of the art specialist extrusion capability.
This significant investment will expand Petlon’s nameplate capacity to a level of 20kt per annum by the end of this calendar year. This investment will see a number of new jobs created in the local area.
Since its creation in 1978 Petlon Polymers Limited has developed into an Engineering Polymers Compounding and Polymer Recovery Company which offers a range of customised high-performance compounds as well as a growing number of environmentally compliant re-engineered materials from its headquarters based in Lydney, Gloucestershire, UK.