MILLINGTON, MICH. (Sept. 1, 3:30 p.m. ET) — Molding and decorating company ADS Ltd. is moving into Europe with its acquisition of Hungary's Deko-Plastic Kft.
ADS, based in Millington, already had production in Millington; Chihuahua, Mexico; and Shanghai. With its acquisition of Deko in Sopron, Hungary, the company will have global reach for its customers in the auto, medical and consumer products markets, the company said in an Aug. 2 news release.
Deko, now operating as ADS Hungary, was operated by Raiffeisen Bank since 2009 when the Austrian bank bought the assets in an auction. Raiffeisen also provided financing for the transaction.
The Hungarian operation has 200 employees producing injection molded parts. ADS' acquisition retains those jobs while the new owner plans to further develop tooling capabilities and bring in ADS' technology from elsewhere throughout the company.