Dive Brief:
- Avis Industrial Corp., a tool manufacturer for the auto, aero and marine industries purchased IPS Balers Inc., a company that manufactures recycling equipment.
- IPS produces ferrous, non-ferrous, mixed-fiber and plastic balers. It is owned by parent company CP Group of Companies, a firm that develops material recovery facilities.
- Avis now owns three baler companies, including American Baler Co. and Harris Waste Management Group Inc. Avis' subsidiaries manufacture shredders and compactors for use in the recycling industry.
Dive Insight:
After the sale is finalized, CP Group of Companies will act as strategic international distributor and will sell Avis' entire line of balers. The chairman and CEO of Avis, Leland Boren, said that since some components are exclusive to IPS equipment, the company expects to expand its customer base through its latest acquisition. Avis will now have direct access to sorting machinery and parts for MRF equipment.
