Intek Plastics Acquires Elite Plastic Corp.
Move expands Intek's reach to new markets, materials and capabilities
HASTINGS, MINN. (March 19, 2008) - Intek Plastics, a leader in custom plastic extrusion and fabrication, announced today it has acquired the assets of Elite Plastic Corp. of Hawthorne, New Jersey. Elite Plastic is a privately held manufacturer of custom plastic profiles for the point-of-purchase market in the northeastern United States that has been in business for 25 years.
The acquisition allows Intek Plastics to serve a broader customer base with new materials and greater extrusion expertise in the point-of-purchase industry. "The addition of Elite Plastic opens the door to a whole new customer base," said Rob Tracy, President and CEO of Intek Plastics. "By uniting two companies that are very strong in their respective markets, both businesses will grow, improve and serve customers better."
Intek Plastics and Elite Plastic plan to retain their workforce and company leadership with the acquisition. Both companies will continue operating in their current locations.
About Intek Plastics
Intek Plastics (www.intekplastics.com) is an ISO 9001:2000 certified, privately held company that engineers, extrudes and fabricates custom plastic extrusions for medium to large OEMs requiring unique, high-performance solutions. Intek's scale and sophistication allows it to serve any industry with world-class manufacturing, including construction, point-of-purchase, refrigeration, agriculture, recreation, appliance, telecommunications and transportation.
Founded in 1961, Intek has two facilities 30 minutes south of the Minneapolis-St. Paul International Airport. Intek's associates work together to create value for customers through their commitment to continuous improvement.
Andy Giefer
Strother Communications Group
612-288-2418
www.scgpr.com
