Greenfield, Massachusetts -- Argotec LLC is broadening its thermoplastic polyurethane film and sheet portfolio with the purchase of Stevens Urethane of Easthampton, Massachusetts.
“The two companies are an ideal fit. Our speciality is aliphatic polyurethane film and sheet. Stevens is very good at extruding aromatic TPU film and sheet,” said Guy Broadbent, Argotec’s president and CEO in a news release.
For Argotec, it is the first major purchase since it was acquired by Chicago investment firm Wind Point Partners in partnership with Broadbent in June 2013.
Headquartered in Greenfield, Argotec makes film and sheet products internationally for optical interlayers, paint and surface protection, graphic films, medical and textile lamination.
Stevens, like its acquirer, makes TPU film and sheet as well as urethane tubing, cord and profiles. It was a business unit of JPS Elastomers Corp, which is part of JPS Industries.
JPS traces its roots back to 1863 when the Easthampton Rubber Thread Co. started to manufacture square-cut rubber thread for the textile industry.
Broadbent said many Stevens employees will continue with the company under Argotec’s ownership, which is planning for “continued plant expansion, organisational development, further improvements in product quality and the ongoing innovation that is demanded by the industries we serve.”
Stevens, which has 80 employees, has competed in certain markets with Argotec. However, Argotec said the intent of the combination is to integrate the strengths of both companies and provide growth for a combined entity.
Argotec has 150 employees in three facilities in Greenfield. Its newest application is a two-part graphic film system that uses TPU film for graphics along with a clear over-laminate layer. The product is an alternative to cast vinyl films.
By Frank Antosiewicz
This story was published in PLASTICS NEWS on 5 May, 2014