Xten Industries Acquires Paramount Plastics

Xten Industries, Kenosha, announced today that its subsidiary has acquired the assets of Paramount Plastics, LLC, Lockport, IL, an $18 million full service plastic injection molding company with special expertise in large-tonnage molding using engineered grade resins.  Paramount is an ISO/TS 16949:2002 certified company.

“We are very excited about the addition of Paramount, which greatly increases Xten’s production capabilities and substantially expands our customer base,” said Matthew Davidson, Xten CEO and Co-founder.

Founded in 1990, Paramount Plastics grew rapidly, establishing a solid reputation as a reliable large tonnage automotive supplier.  Within Paramount’s 122,000 square foot facility are 24 presses ranging from 60-2,000 tons, with shot capacities from 5 grams to 26 lbs.  A variety of robotic automation supports the production of parts sold into the industrial, consumer durable, health and fitness, automotive and packaging markets.

“In addition to the larger equipment, we’ve gained the operational expertise of Paramount’s people,” said Bill Renick, Xten’s president and operations leader.  “Out of the due diligence process, we came to realize how much they have contributed to Paramount’s success and feel fortunate to have them now within the Xten family.”

“One of the qualities both Xten and Paramount share is our dedication to providing exceptional service,” said Davidson.  “Given this common focus, we’re certain Paramount’s current customers will notice no decline in our ongoing support.”

Levin Ginsburg Attorneys at Law served as legal counsel to Xten Industries. Stevenson & Company advised Paramount Plastics and Chuhak & Tecson Attorneys at Law served as Paramount’s legal counsel.

For more information, visit: www.xtenindustries.com or www.paramountplastics.net

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