Re-entering a former business, Donald Rochelo has acquired a Pittsfield, Mass., injection molding facility from MedSource Technologies Inc. Terms were not disclosed.
Rochelo started Apex Engineering Inc. in 1983 and sold it to MedSource in January 2000. He remained in Apex operations until mid-2000 and then served as MedSource director of rapid development for several months.
He said MedSource invited him to reacquire the molding facility and was ``extremely cooperative in finding ways to make that work.'' Now, Rochelo runs the business as Apex Engineering Corp., operating 13 presses of 40-385 tons and targeting the health-care and consumer-products markets.
At one time, the molding plant employed 35, but it was down to 15 when Rochelo bought it in April.
Rochelo operates another business, PC Card Packaging Inc., that continues as a major customer for MedSource's Pittsfield facility.
Plymouth, Minn.-based MedSource said it is exploring options for its toolmaking operation, and Rochelo is interested. The medical components supplier has identified facilities in East Longmeadow, Mass., and Danbury, Conn., for shutdown or sale. The firm will maintain 12 manufacturing sites.
MedSource completed an initial public offering of common stock March 27 and trades on the Nasdaq National Market.