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RTP Company, a global compounder of custom engineered thermoplastics, has announced the acquisition of three production facilities from Alloy Polymers, a provider of specialty, value-added thermoplastic compounding services.
The three plants, located in Richmond, Virginia, Crockett, Texas and Orange, Texas, will be merged with the previous RTP Company acquisition of Alloy Polymers’ Gahanna, Ohio plant. Cary Street Partners LLC represented Alloy Polymers in both transactions. The group will be run as Alloy Polymers, a wholly owned subsidiary of RTP Company, and will be headquartered in Richmond, Virginia.Long time RTP Company executive Peter Ploumidis has been tapped to lead Alloy Polymers as President of the organization.With a compounding capacity in excess of half a billion pounds annually, the Alloy Polymers’ facilities will strengthen RTP Company’s position in the high-volume contract manufacturing sector.Although terms of the agreement were not disclosed, Alloy Polymers employees were informed of the purchase and business will continue as usual. Ploumidis, who has previously run subsidiaries for RTP Company, views the acquisition as an important step for both companies.More information: www.rtpcompany.com