Lebanon Plastics, an injection molding company employing 130 in Lebanon, has agreed to be bought by Innatech LLC, a growing plastic injection molding company based in Rochester, Mich.

        The purchase price wasn't disclosed, but Martin Kelly, who has owned Lebanon Plastics since 1993, said the new owners plan to maintain the plant's management and work force and are considering additional investment in the 55,000-square-foot building at 315 S. West St.

        The company had revenues last year of $15 million, up from $2 million when Mr. Kelly acquired the company.

        In the face of the slowing economy, the plastic molding industry is undergoing consolidation, but Mr. Kelly, whose firm Kelly Holding Co. owns several other small businesses, said Lebanon Plastics has had a good year.

        The sale would enhance Innatech's growth plans and offer better job security and promotional opportunities for employees, he said.

        Innatech recently changed its name from Fickenscher America. Founded in 1995, the company also recently opened a 33,000-square-foot plant in Richmond, Ind.

        The company uses a process known as “in-mold assembly” that produces moving, multiple component parts in one mold. It does work in the automotive, home appliance and juvenile-products markets.

Fed to end discount rate break
Companies doing more with less
Federated chief rebuts prognosis
Fingerhut sale still possible
Peoples Bank names chairman
Procter leaving Chemed
Ex-employees note Baldwin anniversary
Lebanon Plastics sold to Michigan firm
Demand for U.S. goods offsets high price of oil
Duncan: 'Destroy' was never said
Fast-food giant now known as Yum
HIGGINS: Personal Finance
Portman to talk on retirement legislation
Rate report
Savvy Strategies
Business Digest
Tristate Summary
What's the Buzz?