In 1984 Wermia AB in Karlstad acquired the company. At this time the company moved to its present location in Åmål on the shore of Lake Vänern. At that time the company employed 6 people.
A new era of rapid growth began in 1988 with the appointment of a new managing director, Per G. Hellberg, he was a key figure in the company’s further development due to his extensive experience within the plastic- and rubber industry.
Focus was on developing new TPE compounds and increasing market share. Investments in the first twin screw extruder were made in 1989. In the following years, a continuous expansion in people, technical and production capabilities took place.
In 1993, Elastoteknik was sold to the NOLATO-group and became Nolato Elastoteknik AB. The acquisition was a further step in reaching the objectives the company: to be one of the most asked for TPE suppliers. To support their growing customer base further investments were made in new compounding lines, offices, pilot plant and a new laboratory. The company was building a trusted reputation for versatile, customised TPE compounds and technical know-how, particularly for the consumer, automotive and household markets. In 2000 the Åmål site was certified according to ISO 14001. The company was also continuing to expand their portfolio and expertise in TPE compounds for the medical industry. Medical became a strategic market for the company, where they saw good opportunities for TPE compounds.
In 2002 British Vita PLC acquired the company, they became known as VTC Elastoteknik AB and got a sister company in England, Vita Thermoplastic Polymers (VTP), also producing TPE.
The Mediprene brand of TPE compounds for medical applications was launched in 2004 and growing sales resulted in a new production line and supporting sub-systems being installed in 2006 with focus on clean compounds (medical, transparent, food contact etc.). In 2007 the company became the first TPE compounder in Europe to be awarded the ISO 13485 accreditation for the development and manufacture of thermoplastic elastomer compounds for the medical device industry.
In 2010 the company returned to Swedish ownership as Hexpol AB acquired the UK and Sweden sites, which became known as Elasto.
The company continues to thrive as part of the Hexpol family with further investment in people, production capacity, warehousing and a new technical centre at their Åmål site.