Wausaukee Composites Inc. is acquiring Nero Plastics Inc. of Owosso, Mich., in a deal that combines two manufacturers of custom composite parts.
Nero Plastics employs about 180 at two facilities. It reported 2006 sales of $17.5 million. The firm, founded in 1980, does product design, prototyping, and tooling and manufacturing of low- and medium-volume structural plastic and composite components.
It does resin transfer molding and vacuum-assisted RTM, compression molding, liquid composite molding and reaction injection molding. Nero's markets include heavy equipment, mining, heavy truck, mass transit, medical and sporting goods.
Wausaukee Composites has facilities in Wausaukee and Gillet, Wis., that make fiberglass and other composite parts for markets including industrial truck and tractor, mass transit, medical imaging, commercial furnishings, therapeutic systems, wind energy, recreation and corrosion-resistant materials-handling products.
``The combination of Wausaukee Composites and Nero Plastics will be highly complementary. Nero Plastics brings additional capacity with respect to our core composites molding capabilities and also provides additional competitive strength in some molding processes where Wausaukee Composites has limited experience,'' said David Lisle, president and chief executive officer of Wausaukee Composites, in a news release.
Brad Faber, chairman and founder of Nero Plastics, will stay with the company until 2008 to help with the transition. Nero's Kevin Hughes will assume the position of vice president of Wausaukee Composites-Owosso Division.
Lisle said the firm anticipates adding more jobs in Ossowo.
For Wausaukee, it marks the end of a busy year. Sintex Industries Ltd. of Kalol, India, acquired a majority interest in the company in June. Sintex is a publicly traded plastics and textiles company. Lisle said Sintex's investment is allowing Wausaukee to grow.
Wausaukee's molding processes include open, vacuum infusion, resin transfer, SMC compression and RIM. It employs about 300.