BROKEN ARROW, Okla. (Nov. 15) — Molded goods supplier R.L. Hudson & Co. has agreed to acquire Grand River Rubber & Plastics Inc., a maker of lathe-cut seals, extruded rubber products and drive belts based in Ashtabula, Ohio.
The deal, for an undisclosed sum, will give R.L Hudson additional U.S.-based manufacturing capacity, products and markets, the companies said. Grand River will gain access to R.L. Hudson's material and product design expertise, as well as new markets in the U.S. and Asia.
The firms will have a combined revenue of more than $70 million, and no changes will take palce in the workforces at Ashtabula or Broken Arrow, a Tulsa suburb where R.L. Hudson is based, the companies said. Grand River employs 215 and R.L. Hudson 100.
The companies said Grand River will continue with the same name and management team. Its president and co-owner is President Richard Selip, who in 1998 was selected the Rubber Industry Executive of the Year by Rubber & Plastics News. Joseph Misinec is vice president and co-owner.
R.L. Hudson was founded in 1980 by Rick Hudson, and supplies molded rubber and plastic components, extruded and formed hose and sealing devices such as shaft seals, O-rings and hydraulic seals. The firm has several distribution facilities and offices, including one in China and another in Taiwan.
The agreement is expected to be completed by Jan. 31.