HUDSON, WIS. (Feb. 3, 12 p.m. ET) — Giant injection molder Phillips Plastics Corp. — which gets 75 percent of its $500 million in annual sales from the medical business — is changing its name to Phillips-Medisize Corp.
The change adds the name of the European company Phillips bought in the summer to the corporate moniker.
“The new name will take full advantage of the wonderful franchises that both these companies have built over the last 30-plus years,” said Phillips-Medisize CEO and President Matt Jennings in announcing the change Feb. 2.
The company, based in Hudson, has more than 2,100 employees in 19 locations throughout the U.S., Europe and China. It also has design centers in Wisconsin, California, and the Netherlands.
Three-quarters of the company's sales come from drug-delivery, medical-device and diagnostic products. The company's new website will be phillipsmedisize.com. But it said it plans to continue to operate its two existing websites — medisize.com and phillipsplastics.com — for the foreseeable future.
Phillips-Medisize has been owned by private equity firm Kohlberg & Co. LLC since December 2010.