Exco Technologies Ltd. has boosted its plastic automotive parts business by acquiring Bancroft Lasing Technologies Inc.
Bancroft produces painted, precision-molded, laser-etched plastic parts for auto interiors in London, Ontario. Exco of Markham, Ontario, completed the deal Feb. 3 for a purchase price of C$2 million (US$1.3 million) and the assumption of about C$2.2 million (US$1.4 million) in debt.
Bancroft was founded in 1999. It uses relatively new European technology to make backlit parts that are becoming more popular among North American auto producers, according to Exco. Bancroft buys injection molded buttons and paints and treats them with lasers for backlight effects. Exco Chief Financial Officer Scott Bond said his firm will look at moving molding in-house, but it has not made a decision.
Bancroft was owned by an undisclosed private investor. Its president, Doug Bancroft, will continue with the business in the same role.
Exco has been growing its injection molding business internally. After entering molding at its Matamoros, Mexico, trunk-netting and thermoforming plant a few years ago, it built the molding operation to a 14-press unit with clamping forces to 1,000 tons. Originally started to make parts associated with Exco's trunk-netting business, the Mexico molding operation has been diversifying into interior parts such as a console cup tray, bezels and gearshift boots.
Exco also plans to introduce injection molding at its Tangiers, Morocco, trunk-netting plant during the next few years. That facility focuses on the European market.
Exco's other plastics business is thermoformer Polytech, which makes auto cargo-management and floor-protection systems in Matamoros, Tangiers and Dartmouth, Nova Scotia. Exco's other businesses include metal castings and machinery for die casting and aluminum extrusion.