3 May 2007
Oakland Park, Florida - An unnamed company in Angola has purchased Tesco of America Inc.'s Trent Rubber specialty tube and envelope manufacturing division, and will make the rubber tubes in Africa.
The escalating cost of raw materials and the allocation of some of them prompted the sale, according to Daniel Zeledon, who is a business partner in Tesco with his father, Claudio Zeledon. By selling the business the firm generated a profit in a short period of time, rather than wait five to 10 years to attain it, he said.
The continued loss of manufacturing in North America is "really a shame," Zeledon said.
The Trent Rubber plant that closed employed 375 employees and made speciality tubes, precured envelopes, mold cure tubes, flaps, aircraft tubes, antique tubes and truck tubes.
From Rubber & Plastics News (A Crain publication)
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