Tritech to buy Akron Polymer Laboratories

AKRON (June 4)—Recently formed Tritech Laboratories L.L.C. will purchase Akron Polymer Laboratories to expand its customer base and make it a big player in the polymer testing industry. The transaction is expected to close Tuesday or Wednesday. The two Akron-based companies signed a letter of intent recently under which Tritech would buy Akron Polymer for an undisclosed amount and make it a division of Tritech, a subsidiary of Cadreco Inc. also headquartered in the city. The unit will continue to be called Akron Polymer Laboratories, according to Jeff Buda, CEO of Cadreco and president of Tritech. David Russell, founder and president of Akron Polymer, will become vice president and general manager of the division. Akron Polymer, which currently operates out of a 10,000-sq.-ft. building, will be moved to Tritech's 20,000-sq.-ft. plant by summer's end, Russell said. All services will continue to be offered by both businesses during the transition process, Buda said.