Friday, May 12, 2006
ELKHART PLASTICS SOLD
RV Business
Friday, May 12, 2006
Indiana-based Elkhart Plastics Inc., a manufacturer of rotationally molded plastic products and supplier to the recreational vehicle industry, will become the home for the corporate headquarters of the newly formed Promens North American Group.
The Elkhart Truth reported that the move is part of the acquisition of Elkhart Plastics by Iceland-based Promens hf, the world's largest manufacturer of rotationally molded plastic products, with operations in Europe, North America and Asia. The sale of the local company was completed April 25.
On May 8, Promens announced internally that Elkhart Plastics would join Bonar Plastics Inc. and Saeplast Canada Ltd. to form Promens North American Group.
The headquarters of the entire operation will be based at one of Elkhart Plastics' facilities in the area. EPI's primary owner and chief executive officer, Jack Welter, will become president and chief executive officer of PNAG.
"We expect the manufacturing to expand," Welter said of Elkhart Plastics. "Our business will not get smaller. No jobs will move and we will be hiring."
PNAG will have nine plants in the United States and Canada, with 700 employees. Annual sales of the new group are expected to reach $100 million.
"The group is very diverse," Welter said of the three companies forming PNAG. "The markets we serve are quite different."
The three companies all make rotationally molded plastic products. PNAG will sell products to a variety of businesses including those in the recreational vehicle, boat, chemical and agricultural industries.
Elkhart Plastics, founded in 1988, serves the RV, boat and highway safety markets. With Indiana facilities in Elkhart, Middlebury and South Bend, it recently was ranked as the sixth-largest custom manufacturers of rotationally molded plastics products in the United States.
Bonar has five facilities in North America with one in Canada and four in the United States. Saeplast is an international company with one plant in Canada.
Promens operates 22 factories in 10 countries and employs about 1,600 workers.
Friday, May 12, 2006
Indiana-based Elkhart Plastics Inc., a manufacturer of rotationally molded plastic products and supplier to the recreational vehicle industry, will become the home for the corporate headquarters of the newly formed Promens North American Group.
The Elkhart Truth reported that the move is part of the acquisition of Elkhart Plastics by Iceland-based Promens hf, the world's largest manufacturer of rotationally molded plastic products, with operations in Europe, North America and Asia. The sale of the local company was completed April 25.
On May 8, Promens announced internally that Elkhart Plastics would join Bonar Plastics Inc. and Saeplast Canada Ltd. to form Promens North American Group.
The headquarters of the entire operation will be based at one of Elkhart Plastics' facilities in the area. EPI's primary owner and chief executive officer, Jack Welter, will become president and chief executive officer of PNAG.
"We expect the manufacturing to expand," Welter said of Elkhart Plastics. "Our business will not get smaller. No jobs will move and we will be hiring."
PNAG will have nine plants in the United States and Canada, with 700 employees. Annual sales of the new group are expected to reach $100 million.
"The group is very diverse," Welter said of the three companies forming PNAG. "The markets we serve are quite different."
The three companies all make rotationally molded plastic products. PNAG will sell products to a variety of businesses including those in the recreational vehicle, boat, chemical and agricultural industries.
Elkhart Plastics, founded in 1988, serves the RV, boat and highway safety markets. With Indiana facilities in Elkhart, Middlebury and South Bend, it recently was ranked as the sixth-largest custom manufacturers of rotationally molded plastics products in the United States.
Bonar has five facilities in North America with one in Canada and four in the United States. Saeplast is an international company with one plant in Canada.
Promens operates 22 factories in 10 countries and employs about 1,600 workers.
