MOSCOW (MRC) -- Teknor Apex Company has sold its Beetle brand, certain manufacturing assets, and related customer lists to UK-based Petlon Polymers Ltd, as per GV.
The deal with Petlon, expected to be finalised by the end of September, involves a small portion of Teknor Apex’s nylon business. The company said that it will continue to supply nylon compounds throughout the world under the Chemlon brand.
The sale follows a fire on 29 April 2015 that devastated a compounding facility of the company at Oldbury, UK, which produced engineering thermoplastics and thermoplastic elastomers. Teknor Apex will continue to produce nylon compounds in the United States and Singapore under the Chemlon brand and supply them worldwide.
"While Teknor Apex is well positioned to supply nylon and TPEs in Europe and throughout the world, we determined that we could not serve some ETP accounts at a level of service that their business required," said William J. Murray, president of Teknor Apex. "The accounts that we are relinquishing represent a small portion of our worldwide nylon business and include some engineering-grade PET business as well as nylon."
As MRC informed previously, in July 2015, Teknor Apex Company introduced a new series of styrenic block copolymer elastomers, which exhibits performance comparable to that of thermoplastic vulcanizates (TPVs) widely used in window gaskets while offering new options for building product manufacturers.
Teknor Apex is one of the world's leading custom compounders headquartered in Pawtucket, Rhode Island, USA. The company produces PA compounds in the UK, the U.S.A., and Singapore. Teknor Apex is one of the world's leaders of specialty PVC compounds which are used in a wide range of applications from wire and cable to automotive, medical, consumer and industrial products. The company also produces thermoplastic elastomers, nylon, bioplastics, chemicals, specialty compounds.
MRC