North Kingstown, Rhode Island (March 9, 2022)—Toray Plastics (America), Inc., announces that it has completed the sale of its Old Baptist Road (OBR) plant building and assets to Trico Specialty Films of North Kingstown, Rhode Island, an affiliate of Arlin Mfg. Co., Inc., of Lowell, Massachusetts. The business was transferred on January 3, 2022. The final terms of the deal are confidential. Trico is continuing to provide service to OBR customers.
“Toray signed a letter of intent with Arlin in September 2021 and we are very pleased to have achieved a quick, smooth transition,” says Christopher Roy, Executive Vice President, Toray Plastics (America), Inc. Roy explains that several successful strategic expansions and investments in state-of-the-art film lines in the company’s Torayfan® OPP film division had significantly reduced Toray’s reliance on its OBR assets. He also notes that every Toray employee at OBR was invited to remain with the company and transition to the Torayfan Division.
Steven Mitchell, one of the owners of Trico, says “I appreciate the excellent cooperation between the two companies, which enabled a successful transfer of the business. We are looking forward to expanding Trico’s capabilities in high quality film manufacturing with this acquisition, while continuing to provide exceptional service to existing and new customers.”