Injection molder Napco Plastics Inc. is under new ownership. Small Parts Inc., a metal stamping firm in Logansport, Ind., bought the Napoleon, Ohio, custom molder Jan. 1 for undisclosed terms, said Clay Barnes, Small Parts' vice president.
Previous owner White Consolidated Industries Inc., a Cleveland holding company, had been trying to sell Napco for some time, since it did not fit White's core business, said Napco General Manager Jim Rittichier. White is held by Electrolux AB, a maker of large appliances in Stockholm, Sweden.
About two-thirds of Napco's $15 million in sales come from molding vacuum cleaner parts for another White unit, Eureka Co. located in Bloomington, Ill., Rittichier said Jan. 8. Though Eureka is free to take its business elsewhere, he said Napco plans to keep it through competitive pricing and service.
Auto parts, plumbing fixtures and small appliances, from power tools to microwave ovens, generate the rest of Napco's business, with the automotive market being the biggest piece.
That figures nicely into Small Parts' market niche, which mostly comprises punch press and slide form stamping of auto parts for carmakers, and for TRW Inc., Delphi Automotive Systems, Delco Electronics and others. The firm also serves the appliance, electrical and electronic industries. Barnes would not disclose sales.
Those common markets, and new capabilities that give Small Parts more control over its engineered subassembly business, attracted the metal company to Napco, Barnes said.
``We're being asked to put more and more things together; those involve both metal and plastic. Also, the insert molding capabilities at Napco were par-ticularly attractive to us,'' hesaid.
Together the companies can offer customers a turnkey package, both men said.
Rittichier said he expects Napco to flourish under new ownership.
``We're going to proceed more aggressively,'' he said. ``Not being core to the corporate business, we've not been invested in as we would [have] had we been core. So we've got some catching up to do.''
The custom molder runs 26 presses, with clamping forces of 75-500 tons, and employs 150 at Napoleon.
Small Parts employs 350 at plants in Logansport; Monticello, Ind.; and Ju rez, Mexico. It is a subsidiary of Materials Processing Inc., a Logansport holding company.
Napco is its first plastics acquisition.