Clearwater, FL – October 2009 – Custom molder Bengal Industries Inc. has been acquired by Coast Water Efficient Technologies LLC (Coast WET). Coast WET will relocate the molding machines from Bengal’s plant in Clearwater, FL to the site of its new location in Panama City, which is set to open in mid-2010. Bengal Industries operates out of a 20,000 square foot facility in Clearwater, FL and has molding presses up to 300 tons. It serves the automotive, industrial, office equipment, HVAC, power transmission, medical, and electronics markets. Coast WET manufactures proprietary products for water filtration, water purification and plumbing end-use applications. Coast WET had sales of about $3.5 million in 2009 and expects sales from the combined operation in Panama City to exceed $20 million in 2010.
MBS assisted with the October 2009 sale of Bengal Industries, a custom injection molder in Clearwater, FL to Coast WET, a manufacturer of proprietary plumbing products.