Precision ADM acquires Roswell Downhole Technologies
In a move that will enable the manufacture of Canada’s first supply of 100 per cent compostable nonwoven fabrics using sustainably sourced biopolymers, Winnipeg-based medical device maker Precision ADM Inc. has acquired Roswell Downhole Technologies Inc., said to be Canada’s largest manufacturer of melt-blown fabric for medical filtration applications.
The financial terms of the deal have not been disclosed.
Together, the companies will manufacture the fabrics for use in personal protective equipment (PPE) production domestically and for export to global manufacturers.
“As a company, we have responded to COVID-19 by developing and manufacturing the highest quality and most cost-effective medical equipment in our country’s time of need,” Precision ADM CEO Martin Petrak said in a news release. “By coming together with Roswell to develop 100 per cent compostable medical PPE such as masks and respirators, we will better serve Canada and emerge even stronger beyond the pandemic while reducing our carbon footprint and greenhouse gas emissions throughout our product life cycle.”
Precision ADM uses additive manufacturing as a core technology supplemented by multi-axis machining to manufacture high-value components and devices for the medical, aerospace, energy, and industrial sectors.
By October 2021, Precision ADM said, the two companies will be operating a high-volume, automation-driven, non-woven manufacturing plant in Calgary, and scaling up a manufacturing plant in Winnipeg. The plants will produce a full suite of compostable surgical medical masks, gowns, and other medical PPE, air and water filtration, and personal hygiene products.
The investment will create up to 350 new direct jobs and represents a new economic export impact of approximately (US)$2 billion within the next 10 years, Precision ADM said.