GE PLASTICS PURCHASES COMMERCIAL OPERATION OF ABS BUSINESS OF MEXICO'S INDUSTRIAS RESISTOL S.A.
PITTSFIELD, Mass., June 9 /PRNewswire/ -- In an agreement completed last week, GE Plastics, through its Mexican subsidiary GE Plastics Mexico (GEPM), purchased the commercial operation of the ABS resin business of Industrias Resistol S.A. (IRSA), a major Mexican ABS supplier. The purchase includes IRSA's customer base and the trademark of EPOLAN(R) resin. No ABS resin, SAN resin, or SMA technology was involved in the sale. GEPM will service the new business from its operations in Mexico City, and from its Polimar S.A. de C.V. manufacturing facility in Tampico, and from its other sites throughout the Americas. Polimar is a joint venture between GEPM and ICA Plasticos that services the entire North American market. Beginning today, any IRSA ABS volume can be substituted to GE Plastics CYCOLAC(R) resin should the customer so desire. A transition team consisting of personnel from both companies will assist current IRSA customers. IRSA team members include a transistion manager, plus commercial and technical representatives. The team's main responsibility will be to convert the IRSA ABS resin business to GE's CYCOLAC ABS resin. GE has no immediate plans to expand its ABS manufacturing capacity in Mexico. The new ABS volume acquired in the sale will be produced at its Polimar plant and at the company's other Americas sites. As the Mexican market grows and the molder base expands, GE will re-examine the best way to serve its customers. GEPM will immediately implement a comprehensive distribution strategy aiming to ensure service to all customers. The new ABS business will fall under the direction of Paul McBride, general manager, GE Plastics Mexico, and acting national executive, GE Mexico. IRSA will no longer participate in the ABS business. The company's SAN business will remain in operation, producing SAN resin for sale in the global marketplace. IRSA also produces polystyrene, adhesives, particleboard, phosphates, and other products. Those operations are not affected by the GEPM purchase. /NOTE TO EDITORS: EPOLAN(R) is a registered trademark of General Electric Company./ -0- 6/9/93 /CONTACT: Dan Adamus of GE Plastics, 413-448-7487/
CO: GE Plastics ST: Massachusetts IN: CHM SU: TNM
CM -- NE001 -- 6876 06/09/93 09:00 EDT
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|Date:||Jun 9, 1993|
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