Precision Southeast Inc. (PSI), a South Carolina-based custom injection molder, has acquired Indiana custom injection molder Plastic Solutions Inc.
The approximately 100,000-square-foot facility in South Bend will produce primarily auto interior parts, PSI CEO Steve Stradtman said in a telephone interview.
PSI has facilities in Horry County and Marion in South Carolina with a headquarters in Myrtle Beach, S.C. Plastic Solutions is the company's first reach into the Midwest.
“We were looking to expand our geographic reach, our capabilities, our proximity to customers throughout the country,” Stradtman said. “The Midwest was a void for us, and we had a great opportunity [with Plastic Solutions].”
Plastic Solutions will be operated as a wholly-owned subsidiary of PSI. Bob Tennyson, former CEO of Plastic Solutions, will be general manager of the business.
PSI's Marion, S.C., facility also is currently undergoing an expansion, scheduled to be completed this summer.