Local News - Local News - October 11, 2012
Pearson Packaging Systems, of Spokane, says it has acquired Moen Industries, a Los Angeles-based producer of packaging equipment and corrugated packaging designs.
Terms of the transaction weren't disclosed.
Pearson Packaging, which started here in 1955 as R.A. Pearson Co., plans to move the acquired manufacturing operations to its Spokane plant and begin making the equipment here in 2013, with Moen products being transitioned to the Pearson brand in April.
Pearson President and CEO Michael A. Senske says that within the next year, the company plans to hire 10 to 12 people in Spokane to handle the additional work generated by the Moen lines, including eight to 10 assembly technicians and two engineers.
The Spokane company also plans to retain 12 to 15 Moen employees who work in engineering, service, and sales support in the Los Angeles area.
Pearson currently has a total of 135 employees, including 100 in Spokane, 17 in Chicago, and 18 others-mostly sales professionals and service technicians-throughout the U.S., Senske says.
According to information provided to the Journal for a list that was published in the May 24 edition, Pearson's sales for 2011 were $41.2 million, up from $33.7 million in 2010.
Story updated at 4:20 p.m., Oct. 16, 2012