Former ISP CEO Acquires Plastics Thermoformer

Former ISP CEO Sunil Kumar has reached a deal to acquire privately held Universal Plastics, a maker of thermoforming plastics. Universal Plastics has gross annual sales of approximately $10 million, and employs 70 people. Financial terms have not been disclosed. The company makes custom containers, protective covers and enclosures for companies including Pratt & Whitney, GE, BE Aerospace and the U.S. military. The father-son team plan on keeping the senior management team in place while expanding the product line. Sunil and Jay will serve...

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