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Polytek® Development Corp. Announces Acquisition of Alumilite Corporation
EASTON, Pa. and KALAMAZOO, Mich., July 12, 2018 /PRNewswire/ -- Polytek® Development Corp., a manufacturer of specialty polymers for mold making and casting applications, announced today the acquisition of Alumilite Corporation. The acquisition was assisted by MPE Partners and will further enhance their investment portfolio.
Founded in 1988 and located in Kalamazoo, Michigan, Alumilite Corporation is a formulator and supplier of mold making and casting materials with a predominant position in consumer industries including hobby, craft, education, and do-it-yourself.
The acquisition of Alumilite strengthens Polytek's ability to offer mold making and casting material solutions to customers with varying requirements and capabilities. The combined enterprise will offer additional customer service and technical resources, while Alumilite's established retail distribution network and location in the Midwest will improve customer accessibility to high-quality products.
Jonathan Kane, CEO of Polytek® Development Corp., commented, "The acquisition of Alumilite will allow us to provide customers with a wider selection of products and packaging options, increased service, and greater accessibility to high-quality mold making and casting products. Alumilite's location in the Midwest complements Polytek's existing manufacturing locations and will allow us to respond and deliver with greater efficiency than ever before."
Mike Faupel, President of Alumilite added, "We are very excited to join the Polytek team and look forward to continued growth and the delivery of a more diversified product line to our customers."
Alumilite Corporation will operate as a division of Polytek® Development Corp. and Mike Faupel will remain in his role as President of Alumilite. The two companies will continue to do business under their existing names during the integration process.
About Polytek® Development Corp.
Founded in 1984 and headquartered in Easton, PA, Polytek® Development Corp. is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, latex, plastisol, thermoplastic elastomers, and epoxies. These systems are used primarily in mold making and casting applications in industrial, construction, entertainment, fine arts and technology sectors. Divisions of Polytek® include California Medical Innovations, Raw Material Suppliers and Alumilite Corporation. www.polytek.com
About Alumilite Corporation
Founded in 1988 and located in Kalamazoo, Michigan, Alumilite offers a wide selection of mold making and casting products for various projects including hobby & craft, automotive restoration, lure making, jewelry making, special effects, creative culinary, bar top coatings, wood turning and much more. www.alumilite.com
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SOURCE Polytek Development Corp.
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