Chroma Color plans to transition of all the production from the Illinois plant to other manufacturing sites
Chroma Color Corporation’s headquarters in the US. (Credit: Chroma Color Corporation)
Arsenal Capital Partners portfolio company Chroma Color has announced plans to close the recently acquired Plastics Color Corporation’s Illinois plant in the US.
As part of the plan, Chroma Color will transition of all production from the Illinois plant to other manufacturing sites.
Earlier this year, Chroma Color has acquired Plastics Color Corporation from PMC Capital Partners for an undisclosed sum.
Plastics Color provides its customers with reprocessed colour compounds and operates facilities in Illinois and North Carolina in the US.
It serves different markets, including consumer packaging, personal care packaging, pharmaceuticals/nutraceuticals packaging, medical, food and beverage, electronics and consumer products.
Chroma Color CEO Tom Bolger said: “Since the acquisition of Plastics Color Corporation’s assets and business took place earlier this year, we have been diligently exploring a wide array of opportunities to maximise the value we can bring to our customers with an optimal manufacturing footprint.
“After careful consideration and recognising that we have ample capacity available on more advanced manufacturing equipment located at other Chroma Color manufacturing sites, the decision to close the Calumet City location has been made. This decision puts us in the best position to invest in the locations that will best serve our customers.”
Chroma Color invests $1.5m across its manufacturing sites
In preparation for the transition, Chroma Color has invested more than $1.5m at its manufacturing sites.
The investment has been made on new equipment purchases, refurbishment of key equipment and assets, improvements to lab capabilities, and a variety of structural upgrades.
Chroma Color sales vice-president Bishop Beall said: “With these investments and the systematic transition plan currently in process, we are confident that this consolidation will allow us to deliver improved products, quality and service to our valued customers.”