Medbio adds tooling with buy of Concept Molds

By Kerri Jansen
Staff Reporter

Published: March 5, 2014 1:08 pm ET
Updated: March 5, 2014 1:11 pm ET

Related to this story

Topics Automotive, Medical, Electronics, Mergers & Acquisitions, Injection Molding, Molds/Tooling, Injection molds

Precision injection molder Medbio Inc., based in Grand Rapids, Mich., has acquired local mold builder Concept Molds Inc.

Medbio, a contract manufacturer specializing in products for the medical and biotechnology industries, operates a 45,000-square-foot manufacturing facility in Grand Rapids. Its acquisition of Schoolcraft, Michigan's Concept Molds is the company's first push into tooling.

"Medbio did not have tooling capabilities until the purchase of Concept, so we were using outside tool sources, and we will continue to use additional tooling shops above and beyond Concept," said John Woodhouse, Medbio's director of sales and marketing, adding that the acquisition will give Medbio more control over tooling timelines.

"When you don't own a tool shop, you're kind of at the mercy of the tool shops you're using, and hopefully this will help us with faster repairs," he said.

Concept Molds specializes in detail mold design, micro tooling, two-shot molds and prototype tooling for injection molders at its 20,000-square-foot facility. Post-acquisition, the company will maintain an individual identity and its own sales force, Woodhouse said. The company currently provides tooling for molders serving the electronics, automotive and other molding industries as well as medical, and it will continue to do so.

"The goal is that Concept will continue to function as a standalone company… and continue to grow in those other markets as well as medical," Woodhouse said.

Financial details of the transaction were not disclosed.


Comments

Medbio adds tooling with buy of Concept Molds

By Kerri Jansen
Staff Reporter

Published: March 5, 2014 1:08 pm ET
Updated: March 5, 2014 1:11 pm ET

Post Your Comments


Back to story


More stories

Image

Houston Plastic continues to grow with new press, controlled production area

October 1, 2014 11:32 am ET

Custom injection molder Houston Plastic Products Corp. has extended its clamp tonnage range and added an environmentally controlled molding area.    More

Image

Speaker: Many issues can affect multi-cavity molds

October 1, 2014 2:02 pm ET

There are several conditions necessary across all cavities of a multi-cavity mold to ensure that all parts are produced the same. These include...    More

Image

German auto supplier Benecke-Kaliko to build second plant in China

October 1, 2014 10:24 am ET

German auto supplier Benecke-Kaliko AG is set to build its second Chinese facility, in Changzhou, to produce surface materials for automotive...    More

Image

Extreme Tool uses remote Michigan location to attract younger workers

September 30, 2014 3:47 pm ET

“I'm not saying there's anything wrong with being an old guy like me. But I do believe in the power of youth and reinvesting in training. The...    More

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

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

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events