- Continues to operate under the Rapid brand name
- Employees expected to remain with the company
- Conair and other IPEG companies not affected
IPEG, Inc., Cranberry Township, PA, has sold the Rapid Granulator group of companies, to Lifco AB, a diversified public company headquartered in Enköping, Sweden. Other IPEG companies, including Conair, Republic Machine and Thermal Care, will not be impacted by the sale, officials say.
Republic Machine is now subsidiary of IPEG
Rapid is based in Bredaryd, Sweden. Its North American operations are based in Cranberry Township. Except for CEO Kirk Winstead, who will take on new responsibilities within IPEG, all Rapid employees are expected to remain with the company, which will continue to operate under the Rapid brand name. Republic Machine, previously a division of Rapid Granulator, Inc., is now a subsidiary of IPEG, Inc. with all personnel continuing to be employed by IPEG.
Toni Reftman, Managing Director of Eldan Recycling, a wholly owned Lifco subsidiary located in Faaborg, Denmark, will assume responsibility for the Rapid business.
Lifco owns about 100 companies
Lifco owns about 100 companies serving mainly niche markets in three different business areas: dental materials and equipment, demolition and tools, and systems solutions. The company has over 3000 employees in 30 countries.
Eldan Recycling, which is part of an environmental group in Lifco’s systems solution business area, is a global supplier of recycling equipment and systems for processing tires, cables, WEEE, aluminum, refrigerators, municipal solid waste, magnesium and various other scrap materials. Eldan does not have its own granulator product line.