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Coltec Industries has announced the acquisitions of Tex-o-Ion, Repro-Ion and certain assets of Marine & Petroleum Manufacturing Inc, for approximately US$40 million. Tex-o-Ion, with operations in Houston and Burnet, Texas, manufactures, machines and distributes PTFE products, mainly for the semiconductor industry, and Repro-bon, based in Burnet, reprocesses PTFE compounds for the chemical and semiconductor industries. The Marine & Petroleum assets acquired include the three manufacturing facilities in Houston, Burnet and Freeport, Texas. These plants produce flexible graphite and PTFE sealing products, including the Tefonic and Graphonic gaskets, used in the petrochemical industry.
John Guffey, chairman and CEO of Coltec Industries said, "These acquisitions are significant as they provide us with a strong position in the semiconductor industry, where they supply fluorocarbon-based fluid handling products that maintain the purity of the materials used in chip manufacturing. These also extend our line of sealing products for the petrochemical industry."
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