GRINNELL, IOWA (April 10, 11:25 a.m. ET) — Engineered Plastic Components Inc. is continuing its growth through acquisition strategy, buying the Siler City, N.C., assets of Oneida Molded Plastics LLC to boost EPC's capacity in the southeastern United States.
Grinnell, Iowa-based EPC did not disclose a purchase price for the Oneida asset acquisition, which was completed on April 9.
EPC said in a news release that it expects to expand the newly-acquired operations.
EPC now operates 15 facilities in North America with injection molding and blow molding in addition to cast skin, foam-in-place for padded automotive interior trim.
The Oneida facility provides with an important location for business in the commercial truck market in addition to its geography, said owner and CEO Reza Kargarzadeh. EPC has already signed a long-term contract with Oneida's largest customer, and expects to build on that base.
Oneida Molded Plastics was formed in 2006 to take over the former ORC Plastics Division.
OMP continues to operate its headquarters and main plant in Oneida, N.Y.