Financial owner buys thermoformer, injection molder Wilbert Plastic Services
Don Loepp and Sarah Kominek
Plastics News Staff
Wilbert Plastic Services Inc. has thermoforming, injection molding and assembling at its U.S. operations.
Wilbert Plastic Services Inc., a major injection molder and industrial thermoformer, has a new financial owner.
Alleghany Capital Corp., a subsidiary of publicly traded investment company Alleghany Corp., has acquired Belmont, N.C.-based WPS under a new subsidiary, Piedmont Manufacturing Group LLC.
Terms of the deal were not disclosed.
WPS had been privately held by more than 120 shareholders. President and CEO Greg Botner will remain, as will the company s 600 employees.
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NEW YORK, May 11, 2021 /PRNewswire/ Alleghany Capital Corporation ( Alleghany Capital ), a wholly-owned subsidiary of Alleghany Corporation, today announced that it has formed a new wholly-owned subsidiary, Piedmont Manufacturing Group, LLC ( Piedmont Manufacturing ), to acquire Wilbert, Inc. (dba Wilbert Plastic Services and referred to herein as WPS or the Company ), a provider of injection molded and thermoformed parts and multi-component assemblies for original equipment manufacturer ( OEM ) customers in a range of end-markets. Operating out of three facilities in the Southeast and one in the Midwest United States, WPS provides OEM customers in the industrial, commercial, transportation, recreational, medical, and other industries with a full range of product design and engineering, injection molding, thermoforming, painting, assembly, logistics, and inventory management capabilities.
20-04-2021
Alleghany Corporation has reported a healthy profit for the first quarter of 2021, with the re/insurance business delivering double digit net premium growth across all business lines.
The re/insurer reported net profit of $230 million in Q1 2021, having made a loss of $361 million in the first three months of 2020.
Its combined ratio was 99.0 percent for Q1, compared with 101.7 percent the previous year.
Net written premiums (NWP) came in at $1.75 billion, a year on year increase of 14.4 percent on the $1.53 billion reported in Q1 2020. The reinsurance segment reported NWP of $1.39 billion, up 15.2 percent on the $1.21 billion reported the previous year.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Alleghany Corporation Reports 2021 First Quarter Notice
May 6, 2021 GMT
NEW YORK, May 6, 2021 /PRNewswire/ Alleghany Corporation (NYSE:Y) today announced its financial results for the first quarter ended March 31, 2021. A complete, full-text news release for Alleghany’s 2021 first quarter results is available on Alleghany’s website at www.alleghany.com and is also contained in a Current Report on Form 8-K that has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at www.sec.gov. In conjunction with the release, Alleghany has also posted its financial supplement to the company’s website at www.alleghany.com.
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