FOR IMMEDIATE RELEASE – JULY 11, LANGLEY BC
The Redco Group® (“Redco”), a leader in industrial plastics and rubber manufacturing & distribution today announced the acquisition of Industrial Plastics & Paints (“IP&P”). The acquisition grows Redco’s presence in the North American plastics market and provides IP&P with the support and resources to continue to grow in their market space.
Says Graeme Fraser, President & CEO of The Redco Group®, “We have always been very innovative and growth focused, and we are pleased to continue that path by having Industrial Plastics join our group.” He continues, “Industrial Plastics and Paints has tremendous opportunity for growth and matches our philosophy of innovation with their focus on being Canada’s first and largest retailer of 3D printing technology.”
IP&P will join Redco as an independent business unit, under the direction and leadership of IP&P General Manager Ron Sherring. No changes to the company’s operations are planned. Customers can expect the same exceptional service and knowledgeable staff to support their needs, while benefiting from Redco’s over 50 years of specialization in solution-based plastics support.
Sherring expressed his excitement about the company now being a member of The Redco Group®. “Not only does this provide us with a world of growth opportunities but it also ensures that IP&P has management succession to lead us into the future.”
The acquisition aligns with Redco’s philosophy of growth and innovation, bringing enhanced coverage to its distribution network, and new markets to its lines of manufactured products.
Says Fraser, “The cornerstone of our over 50 years of success has been our people and it is evident to us that Industrial Plastics’ focus on its employees has been the backbone of their success as well. This synergy in both employee growth and retention is an important alignment for us.”
About The Redco Group®
The Redco Group®, founded in 1971, is a pioneering specialist in the manufacture and distribution of industrial plastics and rubber. With facilities across North America that serve both local and international markets through its operating companies, Redwood Plastics & Rubber Corp.® and Nylatech Inc®, Redco provides innovative solutions to industry’s most challenging problems.
About Industrial Plastics & Paints®
Industrial Plastics & Paints is a specialty plastics fabricator and hardware wholesaler with a focus on plastics, paints, and castable resins. With seven retail locations in Western Canada, IP&P is the premier Canadian retailer of 3D printers, printing supplies and filaments. IP&P has recently celebrated 70 years in service to their customers.