Polytek and CMI Set to Merge
US specialty polymer firms Polytek Development Corp. and California Medical Innovations (CMI) are to merge their businesses. The combined company will be led by Polytek CEO Jonathan Kane.
Financial terms of the transaction were not disclosed.
"The merger of the two companies creates a portfolio of products for our industries, unmatched by any competitor in the world, with a coast-to-coast presence that allows us to respond more quickly than ever before," Kane said.
Based in Easton, Pennsylvania, Polytek makes specialty polymers, including polyurethane elastomers and casting resins, silicones, epoxies and latex, used primarily in mold-making and casting applications for the industrial, construction, entertainment, fine arts and technology sectors.
CMI of Pomona, California, formulates and compounds latex, plastisols and thermoplastic elastomers for a variety of industries.
The companies said the merger will enhance their performance and provide a stronger nationwide presence. In addition, the collaboration of their R&D departments and sophisticated manufacturing facilities at both locations will offer more opportunities for customized solutions.