SHEFFIELD, ENGLAND — Carclo Engineering plc, a specialty wire and technical plastics company, is considering new acquisitions in the United States.
The publicly traded firm will spend as much as $68 million in its search for suitable technical plastics businesses, said Chief Executive Officer Ian Williamson.
Sheffield-based Carclo also is investing £3 million ($5 million) to upgrade and expand output at several injection molding firms it acquired this year.
The investment, made during 1997 and extending into 1998, will include expansion and replacement of equipment, according to David Adam, finance director.
In March, Carclo paid London-based EIS Group plc £25.6 million ($42.8 million) for five technical custom molders supplying components to automotive, electronics and office equipment customers in the United Kingdom.
The companies involved, formerly EIS's Technical Mouldings Division, include automotive and office equipment component molders Davall Moulded Gears Ltd. of Hatfield, England, and Davall Scotland Ltd. of Harthill, Scotland.
Also acquired were Silleck Moulding Ltd., a precision industrial plastic part and close-tolerance molder in Eaglescliffe, England; its sister firm, Silleck Mouldings (Scotland) Ltd. of Inchinnan, Scotland; and its Welsh counterpart, molder Silleck Davall Ltd. of Dafen, South Wales.
Together with Carclo's three existing plastics molding subsidiaries, the acquired firms now form the group's newly created technical plastics division.
The latest purchases have more than doubled the size of the technical plastics division, Carclo said.
Currently, the technical plastics subsidiaries operate nearly 300 injection presses supplied by manufacturers that include Mannesman Demag, Krauss-Maffei, Engel, Arburg and Negri-Bossi. They have clamping forces of 20-650 tons.
Prior to March, Carclo operated three English firms, Plasro Plastics Ltd., a medical injection molder based in Mitcham; compact-disc jewel-box molder White Knight Products Ltd., located in Eastbourne; and Gill's Cables Ltd. of Lichfield, which produces automotive control cables and injection molded plastic components.