CLINTON, MASS. (June 5, 2:50 p.m. ET) — Nypro Inc.'s NP Medical unit has sold its filter products business to Italian manufacturer GVS SpA.
No terms were disclosed in the sale, which includes IVEX-brand and Nutrivex-brand products. Those items are made at a plant in Cayey,
Bologna, Italy-based GVS will combine its own SpeedFlow-brand filtration products with those of NP Medical. Doing so “will allow our group to become a world leader in the IV filter business in terms of quantity and range of products,” GVS chief executive officer Massimo Scagliarini said in a news release.
GVS will continue to make NP Medical's filter products at the plant in Cayey, which also makes other Nypro product lines, Nypro spokesman Al Cotton said in a June 5 phone interview. The purchase includes the machinery and equipment used to make the products, he added.
The two businesses had not been in direct competition with each other, according to Cotton, although they did sell to some of the same customers. No annual sales total for Nypro's filter products business was available. The Nypro filter products are based on copolyester and polyethersulfone (PES) resins.
GVS was founded in 1979 and is a global leader in development and production of filtration products, mainly for the medical and auto markets. The firm operates eleven manufacturing plants in
Clinton, Mass.-based Nypro ranks as