Dickten Masch Plastics LLC has purchased UPG International Inc.'s Monterrey, Mexico, facility in a move the company said will allow it to serve its customers in more places.
The deal was announced for unspecified terms in an Aug. 15 news release by the two companies. The 105,000-square-foot plant now will operate as DMP Monterrey, S de RL de DV and will maintain existing employees, customers, equipment and processes.
“Except for the letterhead, we aren't planning any initial changes,” said Steve Dyer, president and CEO of Nashotah, Wis.-based Dickten Masch. “However, we're eager to begin working closely with customers there to apply our expertise and market knowledge toward making improvements that save time and money and improve quality.”
The facility has both thermoplastic and thermoset molding with customers in the telecommunications, electronics and automotive industries.
UPG, headquartered in Oak Brook, Ill., will be able to concentrate on its core businesses and long-term strategic plans, which include supplying the medical industry, said CEO Todd Dunn.
Private investment group Patmian LLC, which includes former Moll Industries leader George Votis as the principal investor, bought DMP in 2010 with plans to invest in new regional expansions. DMP Monterrey boosts its presence beyond existing production in Nashotah and Ankeny, Iowa.