PARKERSBURG -With eyes on expanding the area's recycling industry, the Naik Group of Industries announced the purchase of the Gateman Group Thursday.
In a press conference on the fifth floor of the City Building, Saurabh Naik, group president and CEO, announced the acquisition of the assets and business of the Gateman Group. The acquisition has created Sirnaik LLC, a subsidiary of the Intercontinental Export Import Inc (IEI), part of the Naik Group of Industries.
"Acquisition of the Gateman Group businesses will allow IEI and Sirnaik to literally expand its services for a total recycling solution to the plastic industry for post-industrial and post-consumer activities," Naik said.
Saurabh Naik, group president and CEO, talks purchase of the Gateman companies.
Mayor Bob Newell said the deal is a great fit for the city and the entire region.
"The venture creates jobs, revitalizes an industrial area that has been under-utilized for a quarter of a century and accomplishes a responsibility to our environment by enhancing recycling."
Naik said expansion of the company and the recycling operations could create several hundred jobs in the next few years.
Photo by Jeff Baughan
Saurabh Naik, group president and CEO of Naik Group of Industries, announced his company’s purchase of the Gateman Group and its facilities in Parkersburg, including the former Schott Glass facility along Staunton Avenue.
Officials did not disclose the purchase price.
The purchase involves multiple facilities in Parkersburg, as well as Virginia and South Carolina. Naik, which already operates a number of facilities in the area, now has ownership of Gatewood Products, the former Schott Glass and Atlas Steel plants and the Ideal plant.
Naik said Schott Glass will become the Green Research Center, which will house every recycling process under one roof.
"It will be like no other site in the world," he said.
"The acquisition of the Gateman Group and the expansion plans of Sirnaik into post-consumer recycling is proof positive that capacity and technology exists to make recycling and reuse profitable for second-tier markets," Naik added.
Most of the facilities are located in Parkersburg, primarily around Depot Street, near the soon-to-be-abandoned Department of Highways facility.
Officials are hopeful the acquisition of the downtown warehouse and property will aid attempts to create a shipping port. Naik's operations here ship more than 300 containers a month to China and India. The acquisitions in the downtown district give Naik access to the river, the railroad and interstate highway
Officials have been in talks with Congressional leaders and state officials about the creation of a port along the Little Kanawha River. Newell said both he and Naik met with Acting Gov. Earl Ray Tomblin Tuesday to discuss the port and the acquisition.
Ted Gateman, president of the Gateman Group, did not attend the press conference. A phone message left for Gateman was not immediately returned.
In addition to Newell, a few members of city council, Wood County Commissioner Steve Gainer and Cam Huffman, executive director of the Wood County Economic Development Authority, attended the announcement.
Huffman was excited by the purchase.
"Since working with them in 2002, they have been constantly growing," he said.
Naik has operations in the former O. Ames building and Polymer Alliance Services in Washington. The company also has operations in Ravenswood.
"They have taken several vacant properties and filled them," Huffman said.