SALISBURY, N.C. (Oct. 25)—Two Perma-Flex Inc. officials have purchased the rubber roll maker from its German parent firm, meaning the company will be locally owned and operated for the first time in more than 20 years. Michael Berwick and Douglas Angel finalized their buyout of Perma-Flex from Voith A.G. on Sept. 30, the Salisbury-based company said. Terms of the deal, which included the company assets and name, were undisclosed. Berwick is now the firm's president. He is in charge of manufacturing, product development and research and development. Angel, as executive vice president, handles sales, marketing, finance and administration. The pair became interested in buying the company after learning Voith—which had purchased Perma-Flex as part of a multi-unit acquisition from Blackburn, England-based Scapa Group P.L.C. in 1999—didn't view roll-covering as a core business along with its paper machine market interests. The company is increasing capacity a total of 25 percent at its manufacturing sites, adding machinery like calenders, mills, grinders, lathes and a casting machine.
Perma-Flex managers buy company from Voith
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