Protech – Oxyplast Agree Deal for Thermoclad
The Protech – Oxyplast Group of Montreal, Canada is pleased to announce that they have reached an agreement to purchase the thermoplastic powder and liquid coatings businesses of the Thermoclad Company of Erie, Pennsylvania. Thermoclad is a global leader in the production and marketing of PVC powder coatings for fabricated metals such as fencing and dishwasher racks. The company also develops environmentally safe paints as well as other thermoplastics such as nylon and co-polyesters.
David Ades, Managing Director of Protech said: “Thermoclad’s leading position in thermoplastics and especially PVC powder coatings will add a new dimension to our growing powder business. We are excited about the opportunities and synergies which will be generated.” Martin Renkis, chairman of the Thermoclad Company and son of founder Alan Renkis said “Thermoclad has a 50 year history in protective coatings as well as valuable relationships we expect Protech will benefit from. My father immigrated from Latvia after World War II and came to Erie as a young man. From his start as a local paperboy to becoming a leader in the Erie business community, Dad always had a strong sense of pride in his work, especially in the ground-breaking technologies Thermoclad developed. Our family is pleased to see another successful family-run company like Protech continue Thermoclad’s tradition of innovation and keep our dedicated employees here in Erie.”
Protech will maintain Thermoclad’s liquid and powder manufacturing operations in Erie, PA. The transaction is expected to close in mid-December 2012.
The Protech – Oxyplast Group of Montreal, Canada has announced that they have reached an agreement to purchase the powder coating business and manufacturing assets of Innotek Powder Coatings of Big Spring, Texas. Innotek is a well-recognised name within the powder coatings industry specialising in high performance thermoplastic powder coatings.
David Ades, Managing Director of Protech said: “Innotek’s leading thermoplastic technology is a great addition to our global business. It is complementary to our extensive thermoset powder coatings product range.”
Protech fully expects to benefit from the excellent business relationships and the unique thermoplastic technology that Innotek has developed over the years. Protech will integrate the Innotek’s manufacturing operations into its own organisation.
Innotek Powder Coatings was a wholly owned subsidiary of Wagner & Brown, Ltd. located in Midland, Texas. In 1992, Innotek operated under the name Plastic Flamecoat Systems, manufacturing both flame spray equipment used for field application of thermoplastic powder coatings as well as the coatings themselves. In 1995, they eliminated the equipment side of the business and in 2000, with their focus solely on thermoplastic powder coatings, they became Innotek Powder Coatings.