EASTON, Pa. and POMONA, Calif., June 20, 2017 /PRNewswire/ -- Polytek® Development Corp., a manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicones, epoxies, and latex, and California Medical Innovations (CMI), a manufacturer of latex, plastisols (PVCs), and thermoplastic elastomers, have announced today a merger of the two companies. The merger was assisted by MPE Partners and will further enhance their investment portfolio.
For over 30 years, both companies have dedicated themselves to designing and manufacturing high-performing mold making and casting products and providing customers with unmatched, industry-setting technical support and customer service. This merger is positioned to elevate the performance in each of these areas in addition to offering a stronger, nationwide presence. The collaboration of R&D departments and sophisticated manufacturing facilities at both locations will also provide more opportunity for customized solutions for existing and new customers.
Joseph Lawrence, President of Polytek® Development Corp., and Danny Nathie, President of CMI, will remain in these roles and are responsible for growing and maintaining the core business of the individual companies. The two companies will continue to do business under their existing names during the integration process.
Jonathan Kane, CEO of Polytek® Development Corp., will be the CEO of the combined entity. Kane commented, "The merger of the two companies creates a portfolio of products for our industries, unmatched by any competitor in the world, with a coast to coast presence that allows us to respond more quickly than ever before. Combined with our shared culture of customer service, technical support and innovation, we are poised to offer customers the best material solutions in the world."
Yousof Nathie, Founder of CMI added, "We are very excited to partner with Polytek and MPE, and believe they will be great stewards for the combined enterprise. The combined portfolio of products offered will bring additional value to the solutions we can bring to our customers."
Polytek® and CMI are excited to integrate their workforces and look forward to providing customers with a more comprehensive portfolio of products that further the success of their businesses.
About Polytek® Development Corp.
Started in 1984 and headquartered in Easton, PA, Polytek® Development Corp. is a leading manufacturer of specialty polymers including: polyurethane elastomers and casting resins, silicones, epoxies, and latex. These systems are used primarily in mold making and casting applications in industrial, construction, entertainment, fine arts and technology sectors. www.polytek.com
About California Medical Innovations
Headquartered in Pomona, California, California Medical Innovations custom formulates and compounds natural rubber latex, plastisols and thermoplastic elastomers. CMI has over 35 years of experience in the custom compounding field serving a variety of industries with endless application possibilities. www.cal-med-innovations.com
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SOURCE Polytek Development Corp.