ROCHESTER, N.Y. (Feb. 27, 4 p.m. ET) — Injection molder and tooling manufacturer Alliance Precision Plastics Corp acquired the assets of Molding Dynamics Inc., according to a news release from North Carolina Gov. Bev Perdue.
Brad Scott, president of Alliance, said the company took possession the evening of Feb. 27 and the facility was up and running as of that date.
The geographically strategic acquisition includes Molding Dynamics' Spindale, N.C. facility and their equipment. Scott said Alliance will continue injection molding and tooling, but will add more secondary and value added capabilities as time goes on.
“We want to apply engineering support and knowledge on secondaries,” Scott said. “We're very excited. [Molding Dynamics] is very similar to us and that's why we did the deal.”
Alliance chose the North Carolina location to be closer to customers in the southeast.
Rochester, N.Y.-based Alliance intends to create 54 jobs with a substantial investment over the next three years. A $48,000 grant from the One North Carolina Fund, a financial assistance plan through local governments, contributed to the project as well.
The injection molder currently occupies two facilities, both in
Alliance also takes part as a 50 percent owner of joint venture Alliance-McAlpin NY LLC, located in Ramose Arizpe, Mexico.
Molding Dynamics employees who were previously laid off had the opportunity to reapply for positions with Alliance as part of the acquisition.