By: PLASTICS NEWS REPORT
April 2, 2013
CLINTON, MASS. -- The Employee Stock Ownership Plan (ESOP) participants and shareholders of Nypro Inc. have voted overwhelmingly to approve Jabil Circuit Inc.'s acquisition of Nypro.
The vote was announced April 2 at a special meeting of Nypro shareholders at the company's headquarters in Clinton.
President and CEO Ted Lapres noted that "more than 98 percent of the outstanding voting shares of Nypro were cast in favor of the merger."
Courtney Ryan, Jabil's senior vice president, global business units, who will assume a leadership role in the combined Nypro-Jabil operations, added: "This is an exciting day for Jabil and we are thrilled at the overwhelmingly positive response from Nypro's employee shareholders."
The transaction will be finalized once all remaining closing conditions, primarily the receipt of applicable anti-trust approvals, have been completed. Antitrust approvals have been received in the United States, Russia and Germany and are pending in China, Mexico and Hungary.
St. Petersburg, Fla.-based Jabil expects to close the purchase by Aug. 31.