McCalmont Industries buys PTP

May 11, 2010 10:06
Premier Technical Plastics Inc ("PTP"), a subsidiary within the A. P. Moller - Maersk Group, has been sold via a Management Buy Out ("MBO") to McCalmont Industries LLC, a fully owned company of Mr. Jim McCalmont, President of PTP, кузorts with reference to Maersk.
PTP is producing injection moulded plastic parts and products from three factories in Texas, Arkansas and Louisiana, primarily to its US based customers.
The A.P. Moller - Maersk Group recently divested a major part of its technical plastic companies to Nordstjernan AB, which had an option to acquire PTP in the United States.
"After Nordstjernan recently waived its option to acquire the US factories as well, we swiftly entered into negotiations with management aiming at an MBO agreement, says Stig Hoffmeyer, Senior Vice President of A. P. Moller - Maersk. "We have always been proud of having our US teams in our group and are confident that this MBO agreement will lead to further growth in the future".
"Returning to the US businesses over 18 months ago to manage it through the impending recession, I was impressed to find an efficient, well capitalized operation that has greatly benefited from its more than thirteen year association with A. P. Moller -Maersk", says Jim McCalmont. "I am appreciative for the opportunity to continue providing our customers with exceptional level of service, technical solutions and best total value".
The parties have agreed not to disclose the terms of the transaction.
After the transaction, the A.P. Moller - Maersk Group will continue to own two PET bottle companies known as Rostiprimpac in Europe, which produce numerous different PET plastic blow-moulded bottles for a large group of strong brand customers within the water and carbonated soft drink industries.
In total, the A.P. Moller - Maersk Group has divested 39 plastic production companies over the past years in line with the Group's strategy to focus on core business within shipping, energy and retail.
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