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Topics Mergers & Acquisitions, Automotive, Electronics, Medical, Telecommunications, Injection Molding
ResTech Plastic Molding Inc. is adding two-shot molding capability to its portfolio with the acquisition of Northeast Mold & Plastics Inc. of Glastonbury, Conn.
Terms of the deal were not disclosed.
Northeast Mold, a custom molder, was established in 1983. It has done work for many industries, including telecommunications, electronics, instrumentation, printing, automotive, water purification and medical components.
It has four two-shot molding machines — an 88-ton and three 220 ton machines.
Hudson, Mass.-based ResTech, which purchased Tech Atlantic Inc. of Berlin, Conn., in April 2013, plans to combine both to form its Northeast Mold and Plastics Division. ResTech said the management team will be unchanged and will continue to be led by Ron Bodeau, NEMP's general manager.
"NEMP will blend seamlessly with our current operations as we expand our technology strategy in the northeastern United States and execute our customer care program," said George Danis, CEO of ResTech Plastic Molding, in a statement.
Danis said NEMP will be situated in Berlin, and will have 33 injection molding machines ranging from 30-500 tons of clamping force.
The company is currently following a year-long agenda to expand its customer care expertise, invest in research and development, and improve access to technical assistance, internal workforce development and external education programs.
He also said adding Northeast Mold & Plastics gives ResTech customers the ability to take a two-piece product and redesign it for two-shot molding. Danis said some customers have already expressed interest in the new capability.
Northeast Mold's customers will also gain from working with ResTech, which includes a circuit and assembly division for mechanical contracting.
ResTech was established in 1976. It was acquired later by Danis and Plastic Molding Manufacturing.