Injection molder Hampson Corp. of Elyria, Ohio, has purchased Plastic Components Inc., an injection molder in nearby North Ridgeville. Hampson now plans to close its Elyria site and move all production to North Ridgeville by the end of the year.
No purchase price was disclosed. Doug Smith, Hampson vice president and chief operating officer, said his firm had been looking for acquisition opportunities for a couple of years.
Moving to the North Ridgeville site - about five miles away from the Elyria location - will allow Hampson to boost its square footage, from 50,000 to 92,000. All 44 Hampson jobs in Elyria will be transferred to North Ridgeville. Some Hampson machinery will make the move, while some pieces will be sold, Smith said.
Hampson's 2004 sales totaled $4.5 million, primarily in lawn and garden, floor care, small appliances and disposable medical products. The company is almost 50 years old and is owned by Smith and three business partners.
PCI's 30 injection presses mold products for health-care equipment, point-of-purchase advertising, housewares and other markets. The 59-year-old firm employed about 140 in early 2004 and posted sales of about $10 million last year.
The Guerini family has owned PCI since 1975. PCI President David Guerini will remain with Hampson in a consulting role for a short period of time.