Company News

June 14, 2019

Fantastic Donation by Foam Supplies

13. June 2019

FSI: USD 40,000 donation to help grant local wishes

The PU systems house Foam Supplies, Inc. (FSI) has granted USD 40,000 to the Make-A-Wish Foundation of Missouri & Kansas for local children battling critical illnesses.

As a Wish Benefactor Partner, FSI’s gift will help grant four life-changing and very special wishes to children who need them most. Additionally, there will be opportunities throughout the year for FSI employees to volunteer their time and talent at Make-A-Wish sponsored events.

“FSI has a longstanding commitment to making a difference and supporting the community,” said Todd Keske, CEO at Foam Supplies, Inc. “It gives me great pride that we can do our part to help make an impact on the lives of deserving children facing incredibly difficult circumstances.”

Helping others is part of the fabric of what employees do at FSI. The company also has an internal volunteer initiative. This initiative supports employees who are passionate about a cause or charity. Most recently, FSI employees in the company’s St. Louis and Lewisville, TX, USA, locations rallied together to spearhead a month long drive to collect personal care items, dry goods, snacks and more for Operation Shoebox, a non-profit organization that provides support for our troops deployed overseas and returning home.

F. l. t. r.: FSI Business Director Karl Meland, FSI CEO Todd A. Keske, FSI Business Development/Technical Manager Bernie Dipietrantonio and FSI CFO Roland Thomas present Make-A-Wish’s Lisa Kral-Lauterbach and Heidi Klein with a USD 40,000 grant on 15 May 2019. (Source: FSI)

F. l. t. r.: FSI Business Director Karl Meland, FSI CEO Todd A. Keske, FSI Business Development/Technical Manager Bernie Dipietrantonio and FSI CFO Roland Thomas present Make-A-Wish’s Lisa Kral-Lauterbach and Heidi Klein with a USD 40,000 grant on 15 May 2019. (Source: FSI)

“We are elated to have the support of our partners at FSI. With this partnership, we are truly one step closer to achieving our vision of granting the wish of every eligible child,” said LuAnn Bott, President & CEO of Make-A-Wish Missouri & Kansas. “A wish gives children renewed energy and strength, brings families closer together and unites communities – and that is exactly what FSI is doing with their generous gift. We are eternally grateful.”

https://foamsupplies.com

https://www.gupta-verlag.com/news/industry/22962/fsi-usd-40000-donation-to-help-grant-local-wishes

June 14, 2019

Fantastic Donation by Foam Supplies

13. June 2019

FSI: USD 40,000 donation to help grant local wishes

The PU systems house Foam Supplies, Inc. (FSI) has granted USD 40,000 to the Make-A-Wish Foundation of Missouri & Kansas for local children battling critical illnesses.

As a Wish Benefactor Partner, FSI’s gift will help grant four life-changing and very special wishes to children who need them most. Additionally, there will be opportunities throughout the year for FSI employees to volunteer their time and talent at Make-A-Wish sponsored events.

“FSI has a longstanding commitment to making a difference and supporting the community,” said Todd Keske, CEO at Foam Supplies, Inc. “It gives me great pride that we can do our part to help make an impact on the lives of deserving children facing incredibly difficult circumstances.”

Helping others is part of the fabric of what employees do at FSI. The company also has an internal volunteer initiative. This initiative supports employees who are passionate about a cause or charity. Most recently, FSI employees in the company’s St. Louis and Lewisville, TX, USA, locations rallied together to spearhead a month long drive to collect personal care items, dry goods, snacks and more for Operation Shoebox, a non-profit organization that provides support for our troops deployed overseas and returning home.

F. l. t. r.: FSI Business Director Karl Meland, FSI CEO Todd A. Keske, FSI Business Development/Technical Manager Bernie Dipietrantonio and FSI CFO Roland Thomas present Make-A-Wish’s Lisa Kral-Lauterbach and Heidi Klein with a USD 40,000 grant on 15 May 2019. (Source: FSI)

F. l. t. r.: FSI Business Director Karl Meland, FSI CEO Todd A. Keske, FSI Business Development/Technical Manager Bernie Dipietrantonio and FSI CFO Roland Thomas present Make-A-Wish’s Lisa Kral-Lauterbach and Heidi Klein with a USD 40,000 grant on 15 May 2019. (Source: FSI)

“We are elated to have the support of our partners at FSI. With this partnership, we are truly one step closer to achieving our vision of granting the wish of every eligible child,” said LuAnn Bott, President & CEO of Make-A-Wish Missouri & Kansas. “A wish gives children renewed energy and strength, brings families closer together and unites communities – and that is exactly what FSI is doing with their generous gift. We are eternally grateful.”

https://foamsupplies.com

https://www.gupta-verlag.com/news/industry/22962/fsi-usd-40000-donation-to-help-grant-local-wishes

June 12, 2019

Another Polytek Acquisition

Polytek Development Corp. Announces Acquisition of Pro Marine Supplies

Easton, PA & Englewood, FL – June 11, 2019 – Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making and casting applications, announced today the acquisition of Pro Marine Supplies (“Pro Marine”). Polytek is a portfolio company of Arsenal Capital Partners.
Founded in 2013 and located in Englewood, Florida, Pro Marine supplies high-quality epoxy coating resins for a variety of professional and hobbyist applications, including arts, crafts, boat building, restoration and repair.
Pro Marine brings additional epoxy expertise to Polytek’s consumer brand portfolio and expands the company’s ability to offer a rich set of casting solutions to professional artists, crafters and the do-it-yourself community. Jonathan Kane, CEO of Polytek, commented “Pro Marine’s unique experience in artistic and marine epoxy applications will allow us to provide additional product solutions, project inspiration, and technical support to our customers.”
Matt Bonwill, owner of Pro Marine added, “We are excited to join Polytek and take our company to the next level.” Matt Bonwill will remain in his current role through the integration process, and the two companies will continue to do business under their existing names. Genesis Capital, LLC acted as the financial advisor to Polytek.
About Polytek® Development Corp.
Founded in 1984, Polytek® Development Corp. is headquartered in Easton, PA with operations in Pomona, CA, Kalamazoo, MI, and Franklin, IN. Polytek is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, latex, plastisol, thermoplastic elastomers, and epoxies. These systems are used primarily in mold making and casting applications in industrial, construction, entertainment, arts and crafts, and technology sectors. Polytek® brands include California Medical Innovations, Raw Material Suppliers, Alumilite, BCC Products, and ETI Technology, Inc. www.polytek.com
Established in 2013 and located in Englewood, FL, Pro Marine Supplies was founded after boat repair company, Pro Marine Repair, realized the demand for high-quality epoxy resin in marine and artistic applications. Today, Pro Marine Supplies’ epoxy coating resin is well-known among artists and crafters for use in a variety of do-it-yourself and professional projects. www.promarinesupplies.com
About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed 42 platform investments and achieved 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 million to $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. www.arsenalcapital.com

June 12, 2019

Another Polytek Acquisition

Polytek Development Corp. Announces Acquisition of Pro Marine Supplies

Easton, PA & Englewood, FL – June 11, 2019 – Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making and casting applications, announced today the acquisition of Pro Marine Supplies (“Pro Marine”). Polytek is a portfolio company of Arsenal Capital Partners.
Founded in 2013 and located in Englewood, Florida, Pro Marine supplies high-quality epoxy coating resins for a variety of professional and hobbyist applications, including arts, crafts, boat building, restoration and repair.
Pro Marine brings additional epoxy expertise to Polytek’s consumer brand portfolio and expands the company’s ability to offer a rich set of casting solutions to professional artists, crafters and the do-it-yourself community. Jonathan Kane, CEO of Polytek, commented “Pro Marine’s unique experience in artistic and marine epoxy applications will allow us to provide additional product solutions, project inspiration, and technical support to our customers.”
Matt Bonwill, owner of Pro Marine added, “We are excited to join Polytek and take our company to the next level.” Matt Bonwill will remain in his current role through the integration process, and the two companies will continue to do business under their existing names. Genesis Capital, LLC acted as the financial advisor to Polytek.
About Polytek® Development Corp.
Founded in 1984, Polytek® Development Corp. is headquartered in Easton, PA with operations in Pomona, CA, Kalamazoo, MI, and Franklin, IN. Polytek is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, latex, plastisol, thermoplastic elastomers, and epoxies. These systems are used primarily in mold making and casting applications in industrial, construction, entertainment, arts and crafts, and technology sectors. Polytek® brands include California Medical Innovations, Raw Material Suppliers, Alumilite, BCC Products, and ETI Technology, Inc. www.polytek.com
Established in 2013 and located in Englewood, FL, Pro Marine Supplies was founded after boat repair company, Pro Marine Repair, realized the demand for high-quality epoxy resin in marine and artistic applications. Today, Pro Marine Supplies’ epoxy coating resin is well-known among artists and crafters for use in a variety of do-it-yourself and professional projects. www.promarinesupplies.com
About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed 42 platform investments and achieved 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 million to $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. www.arsenalcapital.com

June 11, 2019

Geismar MDI Update

BASF to launch second phase of MDI production facility

June 10, 2019

1:44 PM

BASF will proceed with the second phase of its production expansion for methylene diphenyl diisocyanate (MDI) at its Louisiana chemical complex in Geismar. BASF expects to double its production of MDI from 300,000 metric tons to around 600,000 metric tons through the multiphase expansion project announced in January 2018. MDI is used by industrial customers to produce polyurethanes, which contribute to improved insulation for appliances, lighter materials for cars and energy efficiency in buildings.

BASF will make an $87 million capital investment to continue the expansion of the MDI plant that has been a central aspect of its Geismar manufacturing facility for more than 30 years. The company committed $150 million to the first phase of the MDI expansion. That project is expected to be finalized in the first half of 2020. The second phase of the project will retain 1,238 existing BASF jobs at Geismar, the company’s largest manufacturing site in North America. Construction is expected to start by the end of 2019, with completion scheduled for 2021. The company estimates the project will support 170 construction jobs.

“BASF has called Louisiana home for more than 60 years, and this latest expansion at its Geismar plant will help to keep the company competitive in its global marketplace,” said Gov. John Bel Edwards. “From low operational costs to effective infrastructure and logistics, Louisiana provides industries across a broad spectrum of manufacturing specialties with the assets they need to succeed. We welcome this latest expansion at BASF’s Geismar facility and look forward to the continued economic impact of company operations for Ascension Parish and the Capital Region.”

Since 2009, BASF has invested more than $800 million in major capital projects in Ascension Parish. For this expansion project, the company is expected to utilize the state’s Industrial Tax Exemption Program.

https://www.bicmagazine.com/expansions/downstream/basf-to-launch-second-phase-of-mdi-production-facility/