IPEG Inc., Cranberry Township, Pa., has sold its Rapid Granulator group of companies to Lifco AB, Enköping, Sweden. Rapid Granulator, Bredaryd, Sweden, supplies size-reduction equipment for plastics processors and recyclers and has North American operations in Cranberry Township near Pittsburgh.
Rapid CEO Kirk Winstead will assume new responsibilities within IPEG; all other Rapid employees will remain with the company, which will continue to use the Rapid name. Republic Machine, which had been a division of Rapid, is now a subsidiary of IPEG.
IPEG plans to use the proceeds from the sale to pursue aggressive growth in its other businesses, which include auxiliary equipment manufacturer Conair, shredder manufacturer Republic Machine and Thermal Care, which makes process cooling equipment.
Rapid will complement Lifco's Eldan Recycling business, which is a global supplier of recycling equipment for various scrap materials. Eldan did not have a granulator product line prior to the
