Posts from: October 2012

Mike Weissman to Speak at 2012 IBA Bank Counsel Conference

When:  December 7, 2012

Where: The Westin Chicago River North, 320 North Dearborn, Chicago, Illinois  60654 Tel. (312) 744-1900

Register: https://www.ilbanker.com/default.aspx

Topis Covered:

· Illinois Update – Recent Developments in Banking Law and Litigation. New Illinois versions of SCRA and HOEPA, more Power of Attorney Act changes, still broiling mechanics lien issues, foreclosures, voidable mortgages, eminent domain, debtors prisons, new trust laws, a Dodd-Frank update, Basel III, major court decisions, and as always, much more!

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Xten Industries Acquires Assets of Paramount Plastics, LLC, Lockport, IL

Kenosha, WI, May 17, 2012. Xten Industries, Kenosha, announced today that its subsidiary has acquired the assets of Paramount Plastics, LLC, Lockport, IL, an $18 million full service plastic injection molding company with special expertise in large-tonnage molding using engineered grade resins. Paramount is an ISO/TS 16949:2002 certified company.

“We are very excited about the addition of Paramount, which greatly increases Xten’s production capabilities and substantially expands our customer base,” said Matthew Davidson, Xten CEO and Co-founder.

Founded in 1990, Paramount Plastics grew rapidly, establishing a solid reputation as a reliable large tonnage automotive supplier. Within Paramount’s 122,000 square foot facility are presses ranging from 60-2,000 tons, with shot capacities from 5 grams to 26 lbs. A variety of robotic automation supports the production of parts sold into the industrial, consumer durable, health and fitness, automotive and packaging markets.

“In addition to the larger equipment, we’ve gained the operational expertise of Paramount’s people,” said Bill Renick, Xten’s president and operations leader. “Out of the due diligence process, we came to realize how much they have contributed to Paramount’s success and feel fortunate to have them now within the Xten family.”

“One of the qualities both Xten and Paramount share is our dedication to providing exceptional service,” said Davidson. “Given this common focus, we’re certain Paramount’s current customers will notice no decline in our ongoing support.”

Levin Ginsburg Attorneys at Law served as legal counsel to Xten Industries. Stevenson & Company advised Paramount Plastics and Chuhak & Tecson Attorneys at Law served as their legal counsel.

COMPANY INFORMATION:
Xten Industries, an ISO 9001:2008 certified company, was founded in 1940 and moved to Kenosha in 2002. Xten is a $45 million injection molder and full-service product fabricator, recently named Kenosha County’s 2011 Business of the Year. Due to significant manufacturing efficiencies, Xten has proven to be competitive with Asian and other outsourcing alternatives. In addition, Xten and all its employees strive to be an extension of their cucustomers, assembling finished products and drop shipping those directly to ultimate users. The company offers many auxiliary services including part and tool design assistance, engineering, finishing, in-mold decorating, assembly, and packaging, along with inventory management and logistics solutions. Xten’s mission is to deliver outstanding products on time, at a fair price, working safely in an enjoyable atmosphere while proving that manufacturing can thrive in the United States. For more information on Xten, please visit www.xtenindustries.com or Xten’s headquarters in Kenosha, WI.

 

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