AptarGroup buys India-based molder
CRYSTAL LAKE, ILL. — AptarGroup Inc. acquired dispensing-closure licensee TKH Plastics Pvt. Ltd. in a south Asia regional expansion.
In buying the Hyderabad, India, injection molder, AptarGroup paid about $17 million in cash and assumed debt of $1 million.
TKH, which had annual sales of about $8 million, began serving the Indian personal-care, food and beverage markets in 2000, collaborated over the years with AptarGroup and became a licensee of the firm's dispensing-closure products in 2006.
The TKH deal was disclosed Oct. 26 in a financial report. The transaction closed Oct. 1.
Crystal Lake-based AptarGroup views India as a growing market, prompting expansion of the company's footprint.
Separately in Mumbai, India, AptarGroup is completing a clean room-equipped pharmaceutical-device facility that is expected to be fully operational at the beginning of 2012.
Publicly traded AptarGroup specializes in both dispensing closures and pumps for cosmetic, personal-care, household, food and beverage and pharmaceutical products.
AptarGroup reported profit of $49.2 million on sales of $601.2 million for the third quarter ended Sept. 30.
Ryka Molds shuts down, auction set
MISSISSAUGA, ONTARIO — An auction is set for the end of November for the assets of the shuttered Ryka Molds Inc.
Officials for the Mississauga-based maker of blow molds have not responded to requests for comment, but reports said the company closed in October.
TCL Asset Group Inc. of Toronto will host an auction both online and at the company site Nov. 30, selling machining centers, grinders, lathes and other equipment. Information about the auction is available at TCL's website, said auctioneer Terrance Jacobs.
Rick Hanke and Alfie Stein bought Ryka Molds from SIG Group of Neuhausen Rhine Falls, Switzerland, in 2004, pledging to emphasize the company's focus on industrial, automotive and general-packaging blow mold tooling. The company had been in business for more than 30 years.
Vention Medical agrees to buy Atek
MARLBOROUGH, MASS. — Vention Medical — the former MedTech Group Inc. business — announced Nov. 1 that it has signed a deal to buy Atek Medical Group.
Terms were not disclosed. Marlborough-based Vention expects to close the purchase of Minneapolis-based Atek within the next month. The deal includes Atek Medical Group's Atek Medical and Atek Plastics units.
Both Vention and Atek specialize in manufacturing and assembling plastic medical devices.
MedTech became Vention Medical earlier this year. The company's CEO, Dan Croteau, is a former president of Flextronics International Ltd.'s FlexMedical unit.
Vention Medical's capabilities include injection molding and manufacturing of balloons, shrink tubing and extrusion.
Atek specializes in injection molding.
Silicone specialist Vesta buys SiMatrix
FRANKLIN, WIS. — Silicone-based catheter and tubing manufacturer Vesta Inc. is expanding its silicone capabilities with the acquisition of a Montana-based company that specializes in manufacturing tight-tolerance medical-grade silicone sheeting, and dip-cast silicone elastomer components and devices.
“We are extremely excited to add the SiMatrix team to the Vesta family,” said Phil Estes, CEO of Franklin-based Vesta, in a Nov. 2 statement announcing the purchase.
Vesta said the acquisition of SiMatrix Inc., based in Victor, Mont., will expand its silicone manufacturing capabilities, which currently include medical molding, extrusion and assembly. Terms of the agreement were not disclosed.
It is the second acquisition in the past 30 months for Vesta. In March 2009, Vesta acquired ExtruMed, a manufacturer of precision thermoplastic tubing for diagnostic and therapeutic medical devices.
Vesta makes silicone and thermoplastic tubing for the cardiovascular, neurological, as well as other intravenous catheter markets.