Precise Technology Inc., a custom injection molder headquartered in North Versailles, Pa., acquired Unity Mold Corp. of Des Plaines, Ill., in a transaction completed Jan. 25. Precise purchased Unity for an undisclosed sum.
Unity Mold, founded more than 20 years ago as a mold-making company, also is a contract injection molder primarily serving original equipment manufacturers in the health-care and consumer/industrial markets in the Midwest. The firm operates a 35,000-square-foot facility that has 13 injection molding presses with clamping forces of 175-230 tons. It employs 65.
The acquisition is expected to bring Precise's sales to $50 million in 1996. Precise had sales of $36 million in 1994, with three plants and 250 employees.
``Precise's market concentrations and capabilities mesh with our own,'' said Unity founder Michael Klingler.
Precise had considered several companies in the Midwest. Unity's culture of ``high quality and state-of-the-art technology'' was more nearly like that of Precise's, Precise President John Weeks said. Weeks said the acquisition will allow Precise to expand its presence in the Midwest, as well as strengthen its position in health-care.
Mike Farrell, vice president of marketing and sales for Precise, said the firm has several customers in the Chicago area that it serves from Precise's West Lafayette, Ind., and North Versailles facilities. Precise also has a plant in Newark, Del.
Unity will operate as Precise Technology of Illinois, but will be marketed under the name Precise Unity.
``We want to retain the association with the Unity name because of its strong and well-deserved reputation in the Midwest market,'' Farrell said.