WHITMORE LAKE – RheTech has reached an agreement to be acquired by HEXPOL, a Swedish-based polymers group. The acquisition is expected to be completed in early 2015 after regulatory approvals. Terms were not disclosed.
?This is excellent news for RheTech,? said John Levinson, president and chief executive officer. HEXPOL is already a leading worldwide compounder and this partnership will serve as a launching pad for plastics compounding for HEXPOL here in North America. For this next chapter in our evolution, we look forward to the opportunity to continue expanding our business and serving our customers.
?Our plan through this acquisition is to maintain the current management, production lines, facilities and employee structure,? added Levinson.
RheTech has been majority owned by the Orley family of Southeast, Michigan for more than 45 years.
RheTech produces filled and reinforced polypropylenes, nylon and other engineered resin compounds and multi-functional color concentrates and additives for the automotive, truck, electronics, construction, and consumer markets. RheVision is a line of bio-reinforced polyolefins that currently uses wood, rice hull, flax, agave and coconut shell waste as reinforcement. The company is headquartered in Whitmore Lake. RheTech also has two plants in Michigan, one in Ohio and one in South Carolina.
