A team of Canadian engineers who say they have set out to improve extrusion processes and technologies has received more money to fund a new company, Tronoplast Technologies Inc.
The company announced in mid-September that it has raised another round of funding from 3P Equity Partners, Campbell, Calif., bringing the equity firm's total commitment to more than $5 million. Based in Toronto, Tronoplast Technologies planned to move into a new facility earlier this month. Its goal "is to build the most suitable machine for the intended film technology." Its products include lines for PVC, POF, triple bubble, casing lines and blown film.
"It is unusual to see start-up companies in our industry," says founder Felix Guberman, "but we, together with our investors, are convinced that today is the right opportunity to begin rebuilding the plastic machinery industry in North America."
Using globally sourced technologies, the company works closely with local suppliers in the design and manufacture of key components, including extruders, air rings, dies and feed screws. Guberman says it plans to challenge the expansion of European and Far East machinery suppliers in North America and hopes to develop into a $15 million to $20 million organization with five years.
