Teknor Apex Acquires Chem Polymer, International Supplier of Engineering Plastics Compounds with Plants in UK and USA

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PAWTUCKET, RI, USA, December 31, 2004: Teknor Apex Company today purchased the UK and US engineering thermoplastics compounding businesses of Chem Polymer, which is a leading supplier to customers throughout Europe and the Americas and has a growing presence in Asia. Chem Polymer will operate under its existing management as a distinct entity within Teknor Apex, retaining the Chem Polymer name and a workforce of 150.

Until now a member of the UK-based Chem Polymer Group (formerly BIP Group), Chem Polymer produces reinforced, filled, and specially modified compounds of nylon 6 and 66, acetal, PBT, and PET for automotive, appliance, electrical, electronic, and other applications. It operates two plants in the UK and one in the USA, with combined annual capacity of 30,000 metric tons (66,000,000 lb.).

While Teknor Apex also produces compounds based on engineering resins, its largest plastics output by far has involved flexible vinyl and thermoplastic elastomers, along with color concentrates for use with thermoplastics of all types.

“The purchase of Chem Polymer is the latest initiative in our long-range strategy of broadening the technology base of Teknor Apex and expanding its geographic reach through acquisitions and alliances,” said Teknor Apex president Jonathan D. Fain. “The resources and expertise of Chem Polymer will increase our capability to offer the economic and logistical advantages of ‘single-sourcing’ to customers who require a wide range of compounds or manufacture at multiple sites around the world.”

“By joining with Teknor Apex, Chem Polymer becomes even more valuable to its customers,” said Chem Polymer U.S. president Evan DeWulf. “Besides sharing our passion for service and our emphasis on unique, high-value products, Teknor Apex will immediately benefit our customers through its R&D capabilities and color expertise, and its manufacturing operation in Singapore will enable Chem Polymer products to be available on a truly global basis.”

Teknor Apex did not disclose the purchase price for Chem Polymer.

Chem Polymer Brings Valuable Insight in Key Markets like Automotive and Electrical

Chem Polymer has many years of experience developing custom formulations and providing technical support for customers in “high-specification” markets where strict requirements are set by OEMs, standards bodies, and regulatory agencies. An ISO-9001:2000, QS-9000-certified company, it has achieved Underwriters Laboratory listings and automotive OEM approvals for an extensive range of compounds.

Among key product families supplied by Chem Polymer are Chemlon (R) nylon 6 and 66, Formax (R) acetal, Durlex (R) PBT, and specialty thermoplastic compounds under the Beetle (R) brand. These are available in a wide range of formulations incorporating glass or carbon fibers, glass beads, mineral fillers, PTFE, silicones, impact modifiers, flame retardants, custom colors, and other additives and reinforcements.

The acquisition “is good news for everyone,” according to Russell Livesey, general manager of Chem Polymer UK. “Both Teknor Apex and Chem Polymer gain broader access to technology and international markets, and this will help ensure the future for our employees.”

Chem Polymer operates manufacturing plants in Oldbury and Cinderford, England and Fort Myers, Florida. A direct sales force serves customers in the U.S. and UK while a network of agents represents the company in continental Europe, Asia, and South America. Chem Polymer is headquartered at Tat Bank Road, Oldbury, West Midlands B69 4NH, UK. Tel: 44-121-665-2105. Fax: 44-121-544-5530. Email: etpsales@chempolymer.co.uk.

In the USA, Chem Polymer has offices at 2443 Rockfill Road, Ft. Myers, FL 33911 USA. Tel: 1-239-337-0400. Fax: 1-239-337-4461. Email: chemlon@chempolymer.com.

More information on Chem Polymer is available at www.chempolymer.com.

INFORMATION ON PHOTO: Photo shows products commercially manufactured from compounds supplied by Chem Polymer. Besides the large seating structure, these include a variety of automotive tubing, fastening, under-hood, and interior components.