FIRE PROTECTION

Firm moving to Wadsworth

A company that offers fire protection and security services to businesses and homes has bought a 26,500-square-foot industrial property at 875 Seville Road in Wadsworth.

The company, Koorsen Fire & Security, which is based in Indianapolis, plans to relocate its area office to the Wadsworth building from a smaller facility on Miami Street, off Thornton Street, in Akron.

Koorsen and the owner of the Wadsworth property, a private entity in Foxborough, Mass, were represented by commercial real estate company NAI Cummins of Akron.

Bob Raskow, vice president of NAI Cummins said in a prepared statement that the quick sale of the property reflects the tight industrial market in Northeast Ohio.

“The property had only been on the market for two days before an offer was secured,” he said.

RUBBER

Compounder exec promoted

Preferred Compounding, a large and growing custom rubber compounder headquartered in Barberton, said Thursday that Scott Lieberman has been promoted to vice president of the company and president of its operations in Mexico.

Lieberman, who joined Preferred as vice president of strategic initiatives in 2011 and became general manager of the Mexico operations in 2012, replaces Joe Hudson, who will retire in mid-June.

Hudson, who has been elected to the Preferred board of directors, will continue to serve as an adviser to the company.

Hudson joined Preferred in 2008.

Preferred also said Thursday that Marc Pignataro, with more than two decades of experience in the chemical, metal, polymer and rubber industries, has joined the company as vice president of sales and business development.

The company, which bills itself as the second largest custom compounder in North America, last year employed about 125 at its Barberton plant and headquarters.

The company supplies proprietary and custom-mixed rubber compounds to customers including molders, extruders, mixers and others in the rubber goods market.

The primary industries Preferred Compounding serves include automotive, construction and power generation.

DEVELOPMENT

Team NEO adds to its board

The board of Team NEO, the regional economic development and business-attraction and retention group, has appointed Doug Sibila, president and CEO of Peoples Services Inc. of Canton, to the organization’s board.

Sibila is a third generation owner of Peoples Services Inc., which provides warehousing and trucking services to other companies.

He graduated with honors from the University of Notre Dame with a business degree with a double major in accounting and finance.

Peoples operates more than 6 million square feet of warehouse space in 35 facilities throughout six states: Ohio, Michigan, North Carolina, South Carolina, Virginia and West Virginia.

Area chambers of commerce formed Team Northeast Ohio, with offices in Cleveland, in 2003.

Compiled from staff and wire reports.