Saint-Gobain acquires Mox-Med

PORTAGE, Wis. (Aug. 29)—Silicone products maker Mox-Med Inc. has been purchased by Saint-Gobain Performance Plastics Corp. from Actuant Corp. for about $40 million. Mox-Med is a custom manufacturer of precision silicone rubber extrusions and molded products used in the medical and housewares markets. Mox-Med "is a very good business, and is well-positioned to grow under new ownership," said Andrew G. Lampereur, Actuant vice president and chief financial officer. "Given Actuant's focus is on branded tools and highly engineered position and motion control systems, Mox-Med did not fit with our overall business strategies." Portage-based Actuant will use proceeds from the sale to reduce its outstanding debt, which Lampereur estimated at $90 million.