wiredinUSA July 2013

wiredInUSA - July 2013

French company Actimed has

invested $6.5 million in WPC and

is now the majority stakeholder in

the company.

Westlake Plastics and Actimed

already have a 30-year working

relationship.

Actimed’s

MTD

subsidiary has served as Westlake

Plastics’ exclusive European distributor. MTD will

change its name to Westlake Plastics Europe under

the new ownership.

With the Actimed investment, all of WPC’s previous

debt has been retired, and remaining funds will be

reinvested in the business for capital equipment

and raw materials.

Randy Altland, CEO of Westlake Plastics, will remain

in this position. Michael Kirschnick, a 30-year

industry veteran with experience at Wittmann

Battenfeld Inc and Husky InjectionMolding Systems,

has recently joined the company as national sales

manager. Altland said that Westlake Plastics would

become a much stronger company with the new

ownership team.

“We’ve been in a re-engineering effort the past

two years, and now the business has the resources

it needs to execute on critical manufacturing and

invest in human resources,” he said. “We have

already reinforced our management team with

additional customer-focused plastics industry

veterans.”

Plastics

acquisition

Westlake Plastics Company

(WPC), a manufacturer

of extruded and

compression-molded high

performance thermoplastic

products, has announced a

change of majority ownership.