Actimed purchases majority ownership in Westlake Plastics

Westlake Plastics Company (WPC), a leading manufacturer of extruded and compression-molded high performance thermoplastic products for a wide variety of applications in the medical, industrial, semiconductor, military and aerospace markets, has announced a change of majority ownership.  Effective May 1, Actimed of France has invested $6.5 million in WPC and is now the majority stakeholder in the company.

Westlake Plastics and Actimed have had a 30-year working relationship.  Actimed’s MTD subsidiary has served as Westlake Plastics’ exclusive European distributor. MTD will change its name to Westlake Plastics Europe under the new ownership.

With the Actimed investment, all of WPC’s previous debt has been retired, and remaining funds will be reinvested in the business for capital equipment and raw materials.  

Randy Altland, CEO of Westlake Plastics, will remain in this position.  Michael Kirschnick, a 30-year industry veteran with experience at Wittmann Battenfeld, Inc. and Husky Injection Molding Systems, has recently joined the company as National Sales Manager. Altland said that Westlake Plastics would become a much stronger company with the new ownership team.  

“We’ve been in a reengineering effort the past two years, and now the business has the resources it needs to execute on critical manufacturing and invest in human resources,” he said.  “We have already reinforced our management team with additional customer-focused plastics industry veterans.”

The restructured company will also invest further to support its large distribution network, said Altland.  “Our service team works closely with our distribution channel partners to provide quality products,” he said.  “Investment in resources to further enrich our distribution channel services are planned, to ensure our distributors have the support they need to provide customers with exceptional service.”

Randy Altland, CEO of Westlake Plastics

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