Icon Polymer pumps up sales level by acquiring Silvertown.(International)

From: Rubber & Plastics News | Date: February 7, 2005 | Copyright information

Byline: Liz White Crain News Service

Icon Polymer Group has acquired Silvertown U.K. Ltd., a maker of bearings and anti-vibration systems, for $18 million.

The purchase of Burton-on-Trent, England-based Silvertown will boost Icon's annual sales by $24.4 million to nearly $69 million. Icon also said it is planning to consolidate production at its own facilities within 18 months, although no details were provided.

"Silvertown is an excellent fit for Icon,'' said Richard Gogerty, Icon CEO and major shareholder. "Both companies work in the same core market sectors, and ...

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