Bamberg is a distributor of 10 materials and supplies regular resins in the name of its own Bapolene and Bapolan brands.
Global resin distributor Bamberg Polymers has been sold to Plastiche, a family-owned company, global material giant Ravago Group. The Roussis family controls the shares of private investment companies Plastiche and Ravago, a global leader in distribution, compounding and recycling .
In the transaction between Luxemburg and Jericho (headquartered in Bamberg, New York), the purchase price was not disclosed. Plastiche supplies more than 1 billion pounds of resin annually, and annual sales are estimated at 750 million US dollars.
In a press release issued on March 29, officials stated that the acquisition of Bamberg will diversify the assets of the Roussis family in the industries they already participate in. '
They added that Bamberg will continue to be managed by current senior management personnel. The transaction is approved by the regulator and is expected to end in the first half of 2018.
A spokesperson for Bamberg stated that the company has 39 shareholders made up of senior management and key employees. The spokesperson said: 'Bamberg will continue to compete fiercely with Ravago in the same market as Bamberg. . '
Luxembourg-based Ravago employs approximately 6,000 people worldwide and supplies nearly 9,000 million pounds of resins and compounds to 40,000 customers. The company has a billion-pound-year compounding and recycling capacity. Since the beginning of 2016, Ravago has conducted Eight acquisitions related to distribution.
Bamberg Polymers was run as a public company from 1987 to 1993. The Bamberg family has a long history of plastic products in the 1930s. Bamberg Polymers has sales offices all over the world. The most recent one opened in Costa Rica in 2012.