BP PERFORMANCE POLYMERS INC. SELLS ITS VISALIA, CALIF. WIRE & CABLE COMPOUNDING BUSINESS
BP PERFORMANCE POLYMERS INC. SELLS ITS VISALIA, CALIF.
WIRE & CABLE COMPOUNDING BUSINESS
HACKETTSTOWN, N.J., Jan. 28 /PRNewswire/ -- BP Performance Polymers Inc. (BPPPI) has sold its Visalia, Calif. Wire & Cable compounding business to H. Heller & Co., Inc. The sale includes the manufacturing plant and equipment, along with the technology to produce jacketing and black concentrate for the Wire & Cable industry. Terms of the sale were not disclosed.
"The sale is part of BPPPI's strategy to increase the focus on our core power cable business," said Inge Kovacs, acting president of BPPPI.
Effective immediately, the entire range of products compounded at the Visalia plant are now available exclusively from Heller Performance Polymers, Inc. using BPPPI's formulations and technology. For the transitional period of BPPPI will provide technical assistance to Heller to ensure a smooth transfer of business with customers and suppliers.
"We plan to develop the Visalia site to produce color and additive concentrates for a wide range of plastics/rubber and processing applications, in additiion to the current range of Wire & Cable products," said Herbert Heller, president of H. Heller & Co. Inc.
No significant changes in staffing levels are expected at the plant, a modern 40-acre facility which BP acquired in 1985.
With offices and distribution facilities throughout the United States and Canada, H. Heller & Co. Inc. is an international supplier of plastic, rubber and chemical raw materials.
BPPPI is part of BP Chemicals' Worldwide Wire & Cable business, supplying power cable to the industry in North America, Latin America and the Far East.
/CONTACT: Herbert Heller of H. Heller & Co., Inc., 914-682-0010, or Tony Kozlowski of BP Chemicals, 216-586-5577/ CO: BP Peformance Polymers Inc.; H. Heller & Co., Inc. ST: California; New Jersey IN: CHM SU: TNM
LC -- CL017 -- 4232 01/28/92 12:12 EST