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 Mergers & Acquisitions, United States, Medical, Injection Molding

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

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Uni Cap to build cap molding plant in Jordan

November 25, 2014 12:57 pm ET

The Persian Gulf's largest molder of caps and closures is investing $10 million in a new factory near Amman, Jordan, as part of an effort to boost its...    More

Market Reports

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

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events