Acquisition to expand silicone knowledge
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MTI Leewood product story
Edited by the Engineeringtalk editorial team
Aug 20, 2004
A newly formed subsidiary of Magnifoam Technology International, MTI Groendyk has finalised a definitive agreement to purchase the Groendyk Manufacturing Division of RBX Industries.
A newly formed subsidiary of Magnifoam Technology International, MTI Groendyk has finalised a definitive agreement to purchase the Groendyk Manufacturing Division of RBX Industries.
The agreement was approved by a Virginia Court yesterday and represents a lengthy investigative process by MTI.
Final closing is expected to occur on 27th August 2004.
Groendyk manufactures a wide range of specialty sponge products.
"Groendyk's product line is very complimentary to our own", said Bill Neill MTI's President and CEO.
"Their technology will add an extra dimension to our own silicone knowledge and solution expertise".
Groendyk has a unique silicone sponge extrusion process that will offer MTI a competitive edge in both the USA and Europe.
Leewood Elastomer is a wholly owned subsidiary of Magnifoam Technology International.
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