ITW Electronic Component Packaging Systems of Arlington, Texas, on July 27 agreed to sell its custom injection molding business to Knightsbridge Plastics Inc. of Fremont, Calif.
The deal includes an ITW molding plant in Fremont. Terms were not disclosed.
Shannon Reading, vice president of marketing and business development, said ITW will retain its proprietary business, which designs and makes products used to store, handle and ship sensitive electronic components.
``There were some rumors flying around that we had completely sold off our entire injection molded tray business,'' he said. ``That is certainly not the case.''
ITW Electronic Component Packaging Systems is a division of Illinois Tool Works Inc. of Glenview, Ill. ITW ECPS supplies extruded tubes, carrier tape packaging, injection molded trays and carriers, thermoformed packaging and waffle pack trays from its 11 manufacturing plants in the United States, Southeast Asia and the United Kingdom.
Knightsbridge Plastics Inc., an injection molder specializing in small, high-precision molded components has laid off about 20 workers as part of its plan to combine the firms' operations, he said. Platt said 32 ITW and Knightsbridge employees will work at the Knightsbridge molding plant.