STOW, Ohio (Oct. 6) — CT Extrusions L.L.C. has acquired the extrusion business and related assets of Cleveland-based rubber molder Custom Rubber Corp.
Terms of the deal were not disclosed.
Under the agreement, the Stow-based extruder purchased extrusion equipment, tooling, inventory and customer lists from Custom Rubber. The acquisition adds a new segment to CT´s business — formed hose and autoclave cured parts, said George Stamper, the company´s vice president, technical and operations.
Rick Bowers, CT vice president, sales and marketing, said the acquisition allows the company to penetrate new markets it could not serve before and offer more services to current and future customers.
Despite the operation of its extrusion business, Custom Rubber primarily has been a molding company, and decided it was best served by concentrating in that area for future growth, said company President Charlie Braun. "We have had a long prior relationship with the principals of CT Extrusions and felt they would continue the service and quality our customers have come to expect from Custom Rubber," he said.
With the acquisition in place, CT now is operating multiple extrusion lines, several automatic cutters, taping/laminating machines, automated packaging equipment, and several banks of splicing presses. Current growth and the Custom Rubber acquisition have led the extrusion company to add two new employees, with the expectation of another 4–5 to be added by the end of the year.