IDI Composites International (Noblesville, Ind., USA) announced on Feb. 14 its acquisition of Jet Moulding Compounds Inc. (Ajax, Ontario, Canada), a manufacturer of high-performance thermoset molding compounds. Jet's compounds are used in a variety of markets, including electrical, automotive, military, and heavy equipment.
IDI Composites is a global formulator and manufacturer of thermoset molding compounds for custom molders and original equipment manufacturers (OEMs). The company provides customized polyester/vinylester-based bulk molding compounds (BMC), sheet molding compounds (SMC), and continuous impregnated compounds (CIC) for automotive/truck, aerospace, electrical, food service, alternate energy, and appliance applications.
The Jet Moulding Compounds acquisition reportedly makes IDI Composites the largest supplier of high-performance thermoset molding compounds in the world. The acquisition also means faster turnaround for IDI's global customer base, due to the relatively short shelf life of thermoset products, and increases the companyís global customer base.
Commenting on the acquisition, IDI vice president and general manager Tom Flood said, "We are aggressively expanding our presence in the high-performance products market. This acquisition will speed that process, and will enhance our growing global customer base."
Jet Moulding Compounds Inc. will continue to operate as an independent entity of IDI Holdings Inc. through 2011 in Ajax. IDI will begin working with Jet Moulding Compounds immediately on a managed consolidation into its Noblesville manufacturing facility.