A Mexican affiliate of Plastic Ingenuity Inc., has acquired the assets of thermoformed packaging producer Vitalo de México.
The deal boosts Plastic Ingenuity de Mexico's capacity and capabilities. The company, which has two plants in Monterrey, gains Vitalo's facilities in Guadalupe.
It also allows the firm to “capitalize on the return of manufacturing business to North America from Asia,” Plastics Ingenuity President Tom Kuehn said in a news release.
Vitalo de México was part of thermoformed packaging giant Vitalo Group of Meulebeke, Belgium.
Terms of the deal were not disclosed.
Prior to the acquisition, Plastic Ingenuity operated eight vacuum forming lines in Monterrey. The Mexican company was formed in 2006 as a joint venture between Plastic Ingenuity and Converforma SA de CV of Monterrey.
Based in Cross Plains, Wis., Plastic Ingenuity makes custom thermoformed packaging for markets including food, medical, electronics and retail. The company, which employs about 500, operates 11 extrusion lines and 46 thermoforming lines across its four U.S. locations. It had sales of $80 million in 2011.
Plastic Ingenuity officials did not return calls seeking comment.