| USA. HydroHoist International purchases Rotational Technologies (Rotek) |
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; "Mick Webber, HydroHoist President & CEO")
| Monday, 21 August 2006 | |
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Company news: HydroHoist International, Inc. has acquired full ownership of Rotational Technologies, Inc. (Rotek), announces Mick Webber, HydroHoist president and chief executive officer. HydroHoist previously owned 50 percent of Rotek in a partnership. The sellers are Larry Wheeler, David Wheeler, and Ralph Manis, all of Tulsa. Don Roberts, formerly HydroHoist vice president of operations, was promoted to president and chief operating officer of Rotek, says Webber. Roberts has been with HydroHoist in various leadership positions for 16 years. HydroHoist, the oldest and largest manufacturer of hydro-pneumatic boatlifts in the world, is a privately held multi-million dollar business with 100 plus employees and a global market. The company has been based in Claremore since 1971. Rotek, located near Claremore at Verdigris, Okla., annually molds some 3 million pounds of polyethylene (PE) into a variety of products. The company’s current facility houses four roto-molding machines capable of molding product 14 to 30 feet in length. At the height of the manufacturing season, Rotek employs some 40 people running three shifts, according to Webber. “With the purchase of Rotek, HydroHoist is truly a vertically integrated business,” said Webber, “and we have better control of the production and quality of our product. We see this acquisition as a synergistic and strategic fit as we continue to grow both companies.” “We have been in a solid 50-50 partnership with Rotek as the supplier of PE components for our boatlifts for many years,” said Webber. “About 75 percent of Rotek’s revenue has been from molding products for HydroHoist -- products such as control houses; tanks; HydroPort-2s (our line of personal watercraft); manifolds; and walkways.” “Rotek also does contract work for other companies and will continue to do so,” Webber said. “For example, Pollution Control Corporation makes up nearly 25 percent of Rotek’s business with product designed for pollution control in the oil field.” |
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| Last Updated ( Monday, 21 August 2006 ) |
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