Buffalo, New York -Par Foam Products Inc. is being acquired by Rogers Foam Corp. in a deal that took effect 15 Nov. Par Foam's automotive business will become part of Rogers Foam Automotive Corp., a wholly owned subsidiary of Rogers Foam, while its non-automotive business will become part of Rogers' general foam operations.
Par Foam, based in Buffalo, New York, produces high-quality, high-volume, engineered gaskets, seals and filters made of polyurethane foam and sponge rubber, and serves the automotive, medical, office equipment, industrial, packaging and household industries, said a 7 Nov announcement from Par Foam.
The statement added that the move "is the result of several conditions, one of which is the global imperative to get bigger and better fast. This strategic fit will accomplish that goal. Rogers Foam offers the broadest product line in the industry."
Par Foam and Rogers Foam are working to ensure there is no disruption in service to customers, and said they aim to make the acquisition as transparent as possible to customers and vendors.
Rogers Foam has purchased Par Foam's inventory, equipment and will utilise the Par Foam facilities and employees until satisfactory arrangements are made to transfer tools and production to various Rogers Foam facilities.
No financial details were revealed.