Reel Power Buys Novatec's Downstream Extrusion Line
Move enables Novatec to focus on core businesses while giving Reel Power the ability to furnish turnkey systems.
Reel Power has purchased the downstream extrusion business of Novatec, which includes cooling tanks, pullers and cutters for pipe, profile and tubing, the companies announced in a press release.
The move enables Novatec to focus on its core conveying, drying and moisture equipment solutions, providing a strong product offerings base to focus on and expand its lead in their overall business. For Reel Power, which had already offered high-quality downstream reeling, coiling, and spooling solutions for several markets, the acquisition allows it to to provide a turn-key downstream package to customers, one that increases the automation offering for improved productivity.
Novatec entered the downstream extrusion equipment business in 2012 with the Bessemer Series of cooling tanks, pullers and cutters, which debuted at NPE2012. In 2019, it unveiled an altogether new design of downstream extrusion equipment for medical tubing.
Conrad Bessemer, CEO Novatec, and Joe Henry, CEO Reel Power Industrial Inc., believe that their respective companies will benefit from this transaction, as it provides each with the ability to improve their overall company’s strategic market focus, and to concentrate those efforts on a well-defined, market segmented business models.
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