Technimark Inc. is breaking out of its North Carolina base in a big way.
The Asheboro, N.C.-based injection molder on Aug. 1 acquired Plasticus SA de CV of Mexicali, Mexico.
``The deal basically kills three birds with one stone for us,'' Barry Heller, executive vice president of Technimark, said in an Aug. 14 telephone interview.
The move will help Technimark serve a major customer, broaden Technimark's geographic reach and fulfill a long-term objective to gain a foothold in Mexico, Heller said.
Technimark has wanted the Mexican presence for a decade, but didn't have enough support from customers or the right fit for an acquisition, he said.
``It's just a recognition of a continuing theme of work moving down there,'' Heller said. ``Our customers kept moving down there, but we wouldn't have gotten enough business to make the leap to move to Mexico.''
But Black & Decker Corp., a major Technimark customer, recently signed a contract large enough to justify the move, Heller said.
The acquisition of Plasticus also will help Technimark serve its business machine customers, Heller said.
``We do a lot of business with business-machine folks, and they often have production on both coasts,'' he said.
The deal will be a boon for Plasticus, which had a large, but underused, facility. Plasticus had been a major supplier of videocassette cases, but lost that business when a large customer dropped out of the market. Since then the company's 300 employees and 27 machines have tried to keep busy with custom work, Heller said.
Enrique Tapia, Plasticus general director, will continue to lead the Mexicali facility, but he will have an enhanced plant to work with.
``We'll be taking them from 27 to 40 machines by October,'' Heller said.
Technimark placed 75th, with 1997 injection molding sales of $65 million, in Plastics News' latest ranking of North American injection molders.