Rotonics Manufacturing Inc. manufactures a variety of plastic products for commercial, agricultural, pharmaceutical, governmental, building, medical waste, refuse, retail, recreation, marine, healthcare and residential use, as well as a vast number of custom plastic products for a variety of industries. The company uses the rotonically molding process and, on a smaller scale, injection molding and dip molding processes. In 1998, the injection molding process was added to the company's manufacturing operations as part of a merger. Using this process, the company markets a variety of parts for commercial, promotional, and residential uses, under the trade name Nutron. Rotonically molding is a process for molding plastic resin by rotating a mold in a heated environment, while the plastic resin powder placed inside the mold melts and evenly coats the inner wall of the mold. The injection molding process varies in that the plastic resin is first heated to a molten state and then injected under pressure into a mold. New resins allow rotonically molded items to compete with more traditional materials such as carbon, fiberglass, and stainless steel, especially in the fabrication of large, lightweight, one-piece molded items, such as storage tanks and polysteel light poles. Rotonically molding is a particularly advantageous process for users of molded plastic products who may want to test different prototypes, or who do not require sufficient numbers of such products to justify a more expensive manufacturing process. The company's products include various types of storage tanks, bin lids, refuse containers for automated removal, medical waste containers, agricultural/livestock products, kayaks, outdoor polysteel lamp posts, furniture, planters, and other rotonically molded items. On Aug. 29, 2006, the company entered into an agreement and plan of merger with a subsidiary of Spell Capital Partners, LLC (Buyer). As part of the agreement, Sherman McKinniss, the company's President and CEO, and the Buyer entered into a share exchange and voting agreement that required Mr. McKinniss to contribute 25% of the outstanding capital shares of Rotonics in exchange for 25% of the outstanding capital stock of the Buyer's subsidiary. The Buyer will then acquire the remaining 75% of the company's outstanding capital stock (including public shares) for $3.00 per share in cash. A meeting of the company's shareholders was to be held to vote upon the proposed merger. Following completion of the merger, Rotonics will continue its operations as a privately held company.
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