Filtrona, Plc, a British firm with operations in Richmond, has announced a major acquisition and a corporate reorganization.
The firm, which makes cigarette filters, wicks for pens and household and medical products, is buying Lendell Manufacturing, a maker of water-soluble, polyurethane foams that is based in Saint Charles, Mich., for $35 million.
The acquisition will involve a reorganization that renames Filtrona’s Bonded Fiber Components Division as the Porous Technologies Division. It will be based in Richmond.
Tim Drumhiller, president of privately-held Lendell, will become Divisional Vice President of Foam Products. “Lendell has for the past 10 years been a benchmark of quality for technical foam products. Teaming up with Filtrona and helping to launch its Porous Technologies Division represents a great step for us in Saint Charles in the global expansion of our technology and market reach,” Drumhiller said in a statement.
According to Plastics News, the Lendell buy will help Filtrona offset problems besetting Filtrona, such as a labor strike at Boeing, one of the firm’s biggest clients, and Gulf Coast damage by Hurricane Ike at a Texas subsidiary.