Ivex Packaging Corp. has a bigger stake in electronics markets with the recent purchase of the electronics packaging division of Pactuco Inc. of Lompoc, Calif.
The purchased business has annual sales of about $35 million derived from plants in Lompoc; Sungai Petani, Malaysia; and Hong Kong. A small portion of the business is injection molded packaging from the Lompoc and Malaysian facilities. Injection molding is a new technology for Ivex, said Richard Cote, Ivex vice president and treasurer, in a telephone interview.
Disposable and reusable disk drive packaging was one of Pactuco's main thermoforming applications, according to Chuck Osberg, director of finance for Pactuco. The operations use a variety of materials, including glycol-modified PET, electrostatic dissipative compounds, PVC and conductive high-impact polystyrene.
Pactuco will continue in its core business of expandable PS molding, said Osberg, who will join Ivex. Bicycle-helmet parts are one of its main EPS markets.
The deal gives Ivex production operations in Southeast Asia, a hotbed of electronics assembly. Ivex will combine the acquired business with its medical and electronic division, noted Ivex President George Bayly in an April 20 news release.
Ivex, based in Lincolnshire, Ill., ranked as the fourth largest thermoformer in North America in Plastics News' recent survey with sales of $230 million last year. It reported 177 production lines in 13 facilities.