PAWTUCKET, R.I.—Materials firm Teknor Apex Co. has acquired the dry color business of Dorum Color Co. for an undisclosed price.
In an Aug. 9 news release, officials with Pawtucket-based Teknor said that the deal is an asset purchase and that Dorum customers will be supplied from a Teknor Color plant in Henderson, Ky. They added that Akron-based Dorum has "a singular focus" on the rotational molding market.
"Dorum's focus on superior quality and delivery performance aligns directly with our approach," Teknor President Suresh Swaminathan said in the release. "We look forward to continuing the longstanding relationships developed by [Dorum owner Scott Dority] and his team."
Dority founded Dorum in 1998. His previous industry experience included working for Teknor while based in Ohio. Officials said that Dority is "an acknowledged expert" in the rotational molding sector and added that he'll play an active role in the transition of Dorum customers and suppliers to Teknor to ensure supply security and business continuity.
"I want to thank all of the customers that gave us the opportunity to be their dry color supplier and I also want to thank Suresh and Teknor Color for their interest in carrying the work we have done into the future" Dority said in the release.
Teknor Apex is one of North America's 30 largest compounders and concentrate makers. The firm operates 13 plants worldwide in the U.S., Belgium, Germany, China and Singapore and has annual sales of more than $1 billion.