ORANGE, Calif. (Oct. 31) — West American Rubber Co. L.L.C. has reached a deal to purchase substantially all of the assets of Biltrite Corp.'s sheet rubber and rubber matting business in Ripley, Miss.
The deal is expected to be completed within a month and will be made through West American´s new subsidiary, Biltrite Ripley Operations L.L.C. Terms of the deal were not disclosed.
West American — known as Warco — claimed the combination will create the largest and most diversified sheet rubber and rubber matting producer. The Orange-based firm sees the acquisition as an opportunity to expand its three core divisions, which include molded and extruded products in addition to sheet rubber goods.
In the deal, Warco will get Biltrite´s 400,000-sq.-ft. manufacturing facility in Ripley. The plant will continue to operate but the headquarters will be at West American's operations in Orange.
At closing, Stanley J. Bernstein and Stephen A. Fine of Biltrite will join Warco´ board of directors. Warco President James deLeo will oversee the two operations and Larry Babcock will be named executive vice president of Biltrite Ripley Operations.
Biltrite will continue to run its thermoplastic business in Chelsea, Mass., after the sale.