Plasticos Promex sells to appliance, consumer, electronics, industrial, and lawn and garden sectors. It runs 67 injection molding presses with clamp tonnages up to 3,000 tons for thermoplastic injection, overmolding and gas-assisted molding. It processes more than 8 million pounds per year of commodity and engineering resins. Its 350 employees also perform secondary services such as mold design and building, welding, assembly and rotary silk screen decorating, a new technology for Quantum.
Forret said the acquisition fits Quantum's strategy of targeting companies that bring new customers to the Quantum fold.
“Plasticos Promex offers Quantum Plastics visibility in Mexico and the southern United States,” Quantum President and COO Ron Embree stated in a news release. “Plasticos Promex's strategic location will open doors to new manufacturing markets.”
Plasticos Promex President and co-founder Don Labbruzzo will continue with the business. The merger with Quantum will help the Mexico operation to strengthen its offerings in painting, decorating and assembly.
Plasticos Promex is the seventh molding business brought under the Quantum umbrella in the past few years. Only a week earlier Quantum acquired its sixth business, 3D Plastics Inc. of Gladewater, Texas. Quantum now has more than 300 molding machines in the United States and Mexico.
Molding Business Services of Florence, Mass., advised Plasticos Promex owners in the recent transaction. MBS has advised in several recent plastics mergers and acquisition deals, the most recent being the deal with 3D Plastics as its client.