Maguire Buys Stake in O.A. Newton
Investment has the potential to expand the capabilities of Maguire in the bulk material handling phase of the process industries.
Maguire Products Inc. has purchased an undisclosed minority share of O.A. Newton, a provider of bulk material-handling systems to the wood-plastic composite, flexible and rigid PVC, and carbon black markets, the company announced in a press release.
Based in Bridgeville, Del., O.A. Newton engineers, fabricates, and installs complete systems for the unloading, storage, conveying, and blending of process ingredients, including controls and ancillary equipment. The company will continue to operate separately from Maguire Products, but the investment has the potential to expand the capabilities of Maguire in the material handling phase of the process industries, said Maguire. Maguire supplies handling systems directly connected to the plastics molding and extrusion processes, such as dryers, loaders, blenders, and feeders.
“This investment broadens our offering to the plastics industry and allows us to serve markets that we would otherwise never reach with our current product line,” said Steve Maguire (photo), owner and president of Maguire Products. “We can now refer inquiries for bulk material handling directly to O.A. Newton and can work together with them as projects require.”
Steve Maguire founded Maguire Products in 1977. He has invested in other plastics businesses since then and is a co-owner of Novatec, which, like Maguire Products, is a supplier of auxiliary equipment for molding and extrusion. The two companies operate independently. Riverdale Global is also part of the Maguire family of companies, and it, too, operates independently.
“Our affiliation with the Maguire family of companies provides us with access to a sales organization that has a global reach,” said Rob Rider, Jr., president and CEO of O.A. Newton. “It will greatly improve our ability to grow our customer base. The synergies between all the companies will have a compounding effect on all of us.”
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