MILTON KEYNES, ENGLAND (Dec. 22, 12:10 p.m. ET) — Filtrona plc, a Milton Keynes-based supplier of specialty plastics and fiber products, has completed its acquisition of Richco Inc., a U.S. proprietary molder and extruder.
The $110 million cash deal for 100 percent of Richco's share capital was first announced last month.
Filtrona said the purchase of the Morton Grove, Ill.-based business, which manufactures a range of custom-made and standard plastic parts, would expand its own product portfolio and offered entry to “attractive growth end markets,” including consumer electronics.
Additionally the group said buying Richco would consolidate its protection and finishing products division's position in existing markets, as well as giving access to new ones in both Europe and Asia where it was not currently represented.