Plastics custom injection molder G&F Industries Inc. has acquired the assets of Urethane Processing Corp. of America Inc. to provide liquid injection molding services.
The transaction closed the week of Sept. 3. Terms were not disclosed.
The purchase gives G&F access to silicone molding technology that is similar to what it offers but it had not previously provided, said G&F Vice President John J. Argitis. Customers asked the firm to quote silicone molding jobs in the past, and the new liquid injection molding capacity will enhance its capability, he said.
G&F will continue to operate at Upcoa's leased 15,000-square-foot plant in Peabody, Mass. The facility includes 12 liquid injection and injection presses, with room to grow if necessary, Argitis said.
Sturbridge, Mass.-based G&F also plans to keep the 20-employee workforce intact. ``We want to grow at Upcoa,'' Argitis said. ``Silicone molding is a growth industry and Upcoa is a key supplier in the medical field with an excellent reputation. We want to maintain that continuity.''
G&F plans to invest in Upcoa beginning with a commitment - to start before the end of the year - to attain ISO 9001 certification, he said. ``That's the first step. Later we may look to get ISO 13485 [medical standard] certification.''
G&F began talking with Upcoa this past summer and completed the transaction relatively quickly, Argitis said.
G&F, a 45-year-old plastics molder and contract manufacturer, always is looking for a suitable acquisition as a way to build its business, he said, as long as it is the ``right vehicle.''
Upcoa, which was founded in 1986, makes elastomeric parts, including components for medical devices, diagnostic equipment, electronic systems and electrical equipment. It also molds an array of seals, gaskets and O-rings for industrial applications.
In addition to silicone, Upcoa does injection molding of rubbers and specialty elastomers, such as thermoplastic rubber and thermoplastic urethanes; compression rubber molding; insert molding; peristaltic pump tubing; and cryogenic deflashing and finishing.
The company also offers overmolding, insert molding, assembly, mold-building, design, prototyping and other services. It operates in several markets, including automotive, medical, electronics, safety, consumer and industrial.
Argitis said the purchase is a good one for both companies, and while Upcoa will remain a separate operation, it will ``benefit from the resources of G&F behind it.''
G&F has 145 employees at its 50,000-square-foot plant in Sturbridge, with 39 injection molding machines ranging from 28-500 tons of clamping force. The facility achieved ISO 9001:2000 certification in 1994.