By: Jeremy Carroll
November 13, 2013
Advanced Thermoforming Enterprise (ATE) and InterTrade Industries Ltd. will combine operations as ATE-InterTrade following an acquisition.
InterTrade Industries’ parent company, American Innotek, announced the purchase of Oceanside, Calif.-based ATE on Nov. 13. Terms of the deal were not disclosed.
InterTrade Industries is a heavy- and thin-gauge plastic thermoformer while ATE specializes in developing medical plastic packaging, engineering and supplying thermoformed plastic packaging to medical and pharmaceutical companies.
ATE will continue to operate in California and all its employees will remain in place, American Innotek announced.
The move will help the Escondido, Calif.-based American Innotek move into the medical plastics market and further diversify the company, said the company’s Chairman and CEO Cass Cassidy.
“I founded this company in 1988 with the goal of combining technology with manufacturing efficiencies to fulfill unique marketplace needs,” he said in a statement. “This acquisition represents that spirit and continues to diversify our offerings, thus poising us for future growth.”
Combined, ATE-InterTrade will employ more than 50 people and have more than 70,000 square feet of operations.
InterTrade Industries had an estimated $8 million in sales and 16 machines, according to Plastics News’ ranking of North American thermoformers.