UK firm buys San Diego-based composites specialist

PRW

Published: October 7, 2013 1:41 pm ET

Related to this story

Topics Mergers & Acquisitions, Aerospace, Composites

Middlesex, England-based international aerospace group Shimtech Industries Ltd. has acquired San Diego-based Performance Plastics Inc. for an undisclosed sum.

PPI makes composite parts and assemblies for major aerospace OEMs, including Boeing Co., Lockheed Martin and Northrop Grumman.

Its products include aircraft flight control surfaces, radomes, reflectors, doors and access panels, bulkheads and interior panels.

Shimtech CEO Howard Kimberley said: "In addition to broadening our manufacturing capabilities in advanced, lightweight materials, and extending our business into high growth composite fabrication and integrated metallic and composite assemblies, PPI also provides considerable product synergy with our existing operations.

"With the enhanced resources, additional processes and technical knowhow that PPI will add to the group, the enlarged Shimtech will be more strongly positioned to bid for larger contracts whilst also providing the benefits of a single, integrated source of manufacturing and supply to our global customers."

The acquisition, which will be funded entirely from internal resources, will form a separate Composite Engineered Structures division within Shimtech. The transaction is expected to complete by the end of October.


Comments

UK firm buys San Diego-based composites specialist

PRW

Published: October 7, 2013 1:41 pm ET

Post Your Comments


Back to story


More stories

Image

Optical disc molder OEM getting into micromolding with acquisition of CDA

August 29, 2014 11:24 am ET

Optical disc replicator and molder Optical Experts Manufacturing Inc. of Charlotte, N.C., has expanded its core business and entered new high...    More

Polish injection molder Teknorubber up for sale

August 29, 2014 9:14 am ET

Polish plastic parts maker Teknorubber has been put up for sale following its insolvency filing in March 2014. The company is to be auctioned through ...    More

Image

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it...    More

Image

Megadyne buying Belt Corp. of America

August 26, 2014 10:35 am ET

In a move aimed at building its specialty belting manufacturing and fabrication operations, Jason Industrial Inc. — Megadyne SpA's wholly owned ...    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

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

More Events