Roechling continues plastics focus with Glastic purchase
30 January 2007 – Röchling Group has acquired Glastic Corporation in the USA from its previous owner Combined Industrial Group Network (CIGNET), a company formed in January 2002 by “corporate turnaround specialists” Richard Crawford and Patrick Greene.
Established in 1945 and with headquarters in Cleveland, Ohio, Glastic is a manufacturer of fibre reinforced thermoplastic and thermoset plastics that are used in electrical and industrial applications. It has 160 employees and turnover of €30m.
Glastic will become part of Röchling’s engineered plastics products business, itself part of the company’s plastics activities, accounting for turnover of €1bn when including the Röchling Automotive plastics operations.
