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News Release from: MTI Leewood
Edited by the Manufacturingtalk Editorial
Team on 19 August 2004
Magnifoam Technology begets Groendyk
Manufacturing
Magnifoam Technology International has announced that its newly formed subsidiary MTI Groendyk has finalised the purchase of RBX`s Groendyk Manufacturing Division.
Magnifoam Technology International (MTII) has announced that its newly formed subsidiary MTI Groendyk has finalised a definitive purchase agreement with RBX Industries for the purchase of RBX`s Groendyk Manufacturing Division The agreement was approved by a Virginia Court yesterday and represents a lengthy investigative process by MTI
This article was originally published on Manufacturingtalk on 9 Jun 2004 at 8.00am (UK)
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Final closing is anticipated 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 United States and Europe.
Magnifoam technology International ( MTI) designs, develops and manufactures custom engineered products using silicone and other cellular materials.
The company has three main businesses: Silicone; Aerospace and Fabricated Products.
Mti`s manufacturing divisions develop and produce silicone foam using patented technology, and design and manufacture energy management systems from a variety of flexible cellular materials.
Through its wholly owned subsidiary Leewood Elastomer Germany, MTI manufactures and distributes specialty silicone elastomer.
products.
MTI /Leewood sells its products primarily in the Aerospace and Mass Transit markets, other product categories include sporting goods, automotive, industrial, medical and electronics markets.
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