ITW buys medical molder Coeur

Published: October 8, 2012 6:00 am ET

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding, Pipe/Profile/Tubing

HEBRON, ILL (Oct. 8, 2:40 p.m. ET) — ITW Medical Products has purchased Coeur Holding Co., an injection molder and extruder of disposable medical products used in diagnostic imaging and other procedures.

Coeur is headed by Jay Cude, who also is chairman of the Society of the Plastics Industry Inc. The company had been owned since 2008 by Riverside Co., a Cleveland-based private equity firm.

Terms were not disclosed.

Glenview, Ill.-based Illinois Tool Works Inc. is combining Coeur with its ITW Filtertek business to create the ITW Medical Products unit. Filtertek makes custom insert molded filtration and flow control components.

“I am excited about joining ITW. The company is committed to the medical products market and is planning on investing in Coeur’s growth,” Cude said in a news release. “Our customers will also have access to the ITW Medical Products Filtertek line of products.”

Parent company ITW, a manufacturing conglomerate, recently started on a new strategy to focus on higher-growth markets.

The Medical Products unit is headed by Law Burks, vice president and general manager.

Coeur is based in Lebanon, Tenn., and has a molding and assembly plant in Washington, N.C., and a tubing extrusion and assembly plant in Sheboygan, Wis. The company also has a facility in Saltillo, Mexico, that assembles dispenser coil and fluid delivery products.

Plastics News estimates Coeur’s plastic tubing sales at $17 million, and its total corporate sales at $31 million.

Filtertek has operations in Hebron; Elk Grove Village, Ill.; Juarez, Mexico; Shanghai; São Paulo, Brazil; Newcastle West, Ireland; and Madrid.

Plastics News estimates Filtertek’s North American injection molding sales at $45 million.


Comments

ITW buys medical molder Coeur

Published: October 8, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC,...    More

Image

RxFiber developing new generation of medical fibers

July 23, 2014 1:38 pm ET

Increased concern about patient safety is creating a business opportunity for biomaterial fibers maker RxFiber LLC.    More

Image

Contigo, Avex buy lets Newell Rubbermaid leapfrog new bottle development

July 22, 2014 4:11 pm ET

Newell Rubbermaid Inc. is ready to accelerate its move into the reusable water bottle business with the purchase of two on-the-go drinkware brands.    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events