Plastek Industries Inc., a major custom injection molder in Erie, Pa., has purchased a molder in Leominster, Mass., Cos-Tech Plastics Inc.
Privately held Plastek bought Cos-Tech earlier this year, but made no formal announcement. Joseph Prischak, Plastek chief executive officer, confirmed the purchase recently.
James Costa, who founded Cos-Tech in 1991, remains as president and chief operating officer, running the Leominster molding operation.
Prischak said Cos-Tech is a good fit with Plastek.
Costa referred questions to Plastek.
A Plastics News story published in late 1996 reported that Cos-Tech had 21 injection molding machines, most of them equipped with robots. The company makes its own end-of-arm tooling.
Before founding Cos-Tech, Costa worked as general manager at custom molder Nypro Inc. in Clinton, Mass., then became vice president of Leominster molder E.B. Kingman Co.
In the 1996 article, Costa said 1996 sales would be about $8 million. He predicted 1997 sales would be $10 million.
Although Cos-Tech is the first Plastek factory in Massachusetts, Plastek already has six facilities in New England, all in Laconia, N.H., according to Plastics News data. The company also has five facilities in Erie.
According to the most recent Plastics News ranking of North American injection molders, Plastek was tied for 44th place, with estimated annual sales of $100 million.
Cos-Tech's markets include pharmaceutical, industrial, automotive, consumer products, cosmetics, computer and infant care.