Wausaukee Composites Inc. is boosting the polyurethane molding and reaction injection molding capabilities of its Nero Plastics Inc. subsidiary, with the acquisition of the operating assets of Pla-Ma USA LLC.
Terms were not disclosed.
Nero Plastics will continue to operate Pla-Ma's facility in Owosso, Mich., according to Kevin Hughes, vice president of Nero Plastics.
``No job reductions are anticipated at either the former Pla-Ma facility or at Nero Plastics as a result of this acquisition,'' Hughes said in a news release.
``This acquisition is aligned with our active growth strategy, so we hope to see future job creation as a result of this transaction.''
Hughes said the acquisition consisted primarily of capital equipment, inventory and raw materials related to the business of structural and soft-touch urethane molding and RIM. Pla-Ma has four employees.
He said the acquisition enables Nero to supply customers needing lower-volume soft-touch interior covers such as dash side panels and access panels. It will also allow the company to offer other RIM components, such as armrests, machine covers and body panels.
Pla-Ma was started in the 1990s as a joint venture between former Nero owner, Brad Faber, and Arplama Group, a composites company based in Olen, Belgium.
Nero, like Pla-Ma, is headquartered in Owosso and also makes low- and medium-volume structural plastic and composite components for original equipment manufacturers. The company serves the heavy-equipment, mining, heavy-truck, mass-transit, medical and sporting goods industries.
Nero employs 180 and has been part of Wausaukee since December. It offers engineering and tooling capabilities.
Wausaukee Composites has facilities in Wausaukee and Gillet, Wis. The firm manufactures composite and fiberglass components for many industries, including industrial truck, tractor, mass-transit, medical imaging, wind energy, commercial furnishings, therapeutic systems, recreation and corrosion-resistant materials handling.
Sintex Industries Ltd., a publicly traded textiles and plastics company based in Kalol, India, owns a majority interest in Wausaukee.