Cadence buying three plants from Plainfield Precision

By Don Loepp
Editor

Published: August 5, 2014 2:30 pm ET
Updated: August 6, 2014 11:01 am ET

Image By: Cadence Inc. Cadence Inc.'s headquarters facility in Staunton, Va.

Related to this story

Topics Medical Mergers & Acquisitions Injection Molding United States
Companies & Associations

Cadence Inc., a contract manufacturer of medical devices, is expanding its plastics manufacturing capabilities with the purchase of three plants from Plainfield Precision Holdings.

Staunton, Va.-based Cadence specializes in making critical components for minimally invasive surgical tools.

The acquired plants — in Sturgeon Bay, Wis.; Plymouth, Mass., and Santo Domingo, Dominican Republic — include injection molding and metal stamping operations.

“Plainfield Precision Holding’s unique portfolio of precision plastic injection molding and metal stamping capabilities provides key building blocks for our supply chain integration strategy,” said Cadence CEO Alan Connor, in a news release.

This is the second change in ownership in seven years for some of the Plainfield plants. The Plymouth and Santo Domingo factories had been part of Plymouth-based Pixley Richards Inc. until 2007, when they were purchased by Plainfield, Ill.-based Polymer Plainfield Cos. Inc.

Plainfield Precision recently closed and auctioned its former headquarters, a 96,000-square-foot factory in Plainfield, which supplied injection molded products for the automotive, industrial, electronics and appliance industries. At the time, company officials were not available to comment on the future of the rest of the company.

Plainfield Precision reported North American injection molding sales of $40 million and total corporate sales of $50 million in 2012, the latest data available, according to Plastics News records.

Including the acquired operations, Cadence now employs more than 400. Its other factories are in Cranston, R.I., and Pittsburgh. On its website, the company lists capabilities including overmolding, insert molding, assembly, machining and rapid prototyping.

In the news release, Connor said that Cadence is positioned to handle contract manufacturing for its customers, thanks to the company’s capabilities in both plastics and metals.


Comments

Cadence buying three plants from Plainfield Precision

By Don Loepp
Editor

Published: August 5, 2014 2:30 pm ET
Updated: August 6, 2014 11:01 am ET

Post Your Comments


Back to story


More stories

Image

Getting a real feel for how 'vinyl saves lives'

March 27, 2015 6:00 am ET

While I'm certainly not shipping off to Africa anytime soon, I got a taste of what medical professionals go through in the fight against Ebola and...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Intertech Medical adding presses, people

March 23, 2015 3:28 pm ET

Colorado's Intertech Medical has added five new injection molding presses and expects to add up to another four machines to keep up with a growth in...    More

Image

Kumar left Wall Street to run thermoforming companies

March 18, 2015 6:00 am ET

Jay Kumar was working on Wall Street before he decided to invest in manufacturing, buying Universal Plastics Co. in 2012.    More

Image

PVC gets a spotlight at NPE for its role in saving lives

March 17, 2015 11:51 am ET

“Ripped from the headlines” is a phrase more associated with prime time television than trade shows. But it does apply to a special exhibi...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

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

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events