Wausaukee Composites, Inc. Acquires Operating Assets of Pla-Ma USA, LLC, Through its Nero Plastics, Inc. Subsidiary
May 1st, 2008
Strategic acquisition further extends the spectrum of plastics molding solutions the company offers to its global Fortune 500 Original Equipment Manufacturing (OEM) customer base.
WAUSAUKEE, WISCONSIN – Wausaukee Composites, Inc. announced today that it has acquired the operating assets of Pla-Ma USA LLC, through its wholly owned subsidiary, Nero Plastics, Inc. The operating assets of Pla-Ma USA consist primarily of capital equipment, inventory and raw materials related to the business of structural and soft-touch urethane molding and reaction injection molding.
Kevin Hughes, Vice President of Nero Plastics, stated, "the acquisition of these operating assets – including high volume injection equipment, vacuum forming equipment, and robotics - allows us to offer molding solutions where customers need lower volume soft-touch interior covers such as dashes, side panels, or access panels. With this same equipment and similar materials we can easily extend our product offering to include other reaction injection molded (RIM) components such as armrests, machine covers, and body panels."
"At this time, Nero Plastics intends to continue to operate the urethane molding business at its existing location in Owosso, Michigan. No job reductions are anticipated at either the former Pla-Ma facility or at Nero Plastics, as a result of this acquisition. This acquisition is aligned with our active growth strategy, so we hope to see future job creation as a result of this transaction," Hughes said. Nero Plastics, of Owosso, Michigan, is a custom molder of low and medium volume structural plastic and composite components that Wausaukee Composites acquired in 2007. Nero Plastics serves original equipment manufacturers (OEM's) in the heavy equipment, mining, heavy truck, mass transit, medical, and sporting goods industries. Nero Plastics has approximately 180 employees in two facilities in Michigan.
Commenting on the acquisition, David Lisle, President and CEO of Wausaukee Composites, said, "the incremental addition of in-house urethane molding capacity will further enhance the full spectrum of structural plastics molding solutions that Wausaukee Composites and Nero Plastics are able to provide to our Global Fortune 500 customer base. We are continuing to build out our North American manufacturing base, in order to meet increased customer demand in our low to mediumvolume, highly-engineered, custom molded product segments. The Pla-Ma acquisition represents another step in that direction."
About Wausaukee Composites
Wausaukee Composites is a leading manufacturer of highly engineered composite plastic and fiberglass components for Original Equipment Manufacturer (OEM) customers in the Industrial Truck and Tractor, Mass Transit, Wind Energy, Medical Imaging, Commercial Furnishings, Therapeutic Systems, Recreation, and Corrosion-Resistant Materials Handling industries, worldwide. Core processes include Open Molding, Light Resin Transfer Molding (LRTM), Vacuum Infusion Molding, Resin Transfer Molding (RTM), Vacuum Assisted Resin Transfer Molding (VARTM), Sheet Molding Compound (SMC), Liquid Composite Molding (LCM), and Reaction Injection Molding (RIM) of composite components. The ISO 9001:2008 certified company offers full service design, tooling, prototype development, product manufacture, and value-added secondary assembly services.
Wausaukee Composites operates four manufacturing facilities in Wisconsin and Michigan, where it provides manufacturing jobs for more than 400 employees. Wausaukee Composites is a subsidiary of Sintex Industries, Ltd., a multi-national manufacturer and distributor of structural plastics and textiles, with manufacturing operations located in North America, Europe, and India.
Contact
David A. Lisle, President & CEO
Wausaukee Composites, Inc.
(715) 856-6321
