Eliokem has announced plans to expand the processing and packaging capability in its Akron, OH plant for Pliolite, Plioway and Pliotec resins. This is in response to increasing market share particularly in North America with the Pliotec latex product range.
In an effort to continuously grow the North American market segment in specialty niche applications, enhancements have made to the Akron plant. On the processing side the expansion includes doubling its capacity to produce Pliotec resins. “This investment in manufacturing capacity and capability will allow us to produce more without increasing manpower on the line,” said Robert Smith, plant manager at the Akron plant. The production investment will give the plant more flexibility in managing its operational schedule. On the finishing and packaging side, automation investments have been made to the dry finishing lines.  In addition, Eliokem is moving to a seven day production schedule and is hiring production and maintenance personnel to support the growth.
This investment is needed to support Eliokem’s resins business double-digit growth over the last five years. According to the company, the main contributor to the growth has been the increased market share of Pliotec resins and also the steady demand of Pliolite and Plioway dry resins.
In other company news, Eliokem is seeking acquisition targets in Europe, Asia and the Americas to fuel profit growth and extend its scope of business. This expansion strategy is the driving force identified in the secondary leverage buy out of the chemical company led by Axa Private Equity in October 2006. Olivier Faussadier, director and member of the executive committee, will head the newly formed ventures department. On M&A activities, a team will support him in the search for acquisitions that will strengthen the company’s operations and enable it to meet its strategic and financial goals.