NORTH KINGSTOWN – Toray Plastics (America) Inc. has finalized the sale of its Old Baptist Road facility to a Lowell, Mass.-based manufacturer’s Rhode Island affiliate.
On Wednesday morning, Toray announced the completed sale of its Old Baptist Road plant to Trico Specialty Films, also located in North Kingstown. In 2016, Trico was acquired by Arlin Mfg. Co. in Lowell.
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All Toray employees at the Old Baptist Road facility were offered continued employment within Toray’s polypropylene films manufacturing division, according to a joint statement from the manufacturers.
Toray’s headquarters remains based in the Quonset Business Park, where it has expanded operations in recent years, beginning with a 2018 investment in an 8.7-meter polypropylene film line.
Toray has 582 employees in North Kingstown.
In 2021, North Kingstown assessed the 560 Old Baptist Road property, which includes a 35,000-square-foot building and 4 acres of land, at $1.6 million, according to property records.
Expansions and investments in Toray’s film lines “significantly reduced Toray’s reliance on its OBR [Old Baptist Road] assets,” the manufacturers’ statement said.
Toray signed a letter of intent to sell the facility to Arlin Mfg. Co. in September 2021. The business transfer took place on Jan. 3.
The deal’s final terms are confidential, according to the manufacturers.
(Update: CORRECTS where employees at the former Old Baptist Road facility will work.)
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
