PRC Composites LLC has acquired Globe Plastics Inc. in a composites market deal between the two California-based companies.
Financial terms were not disclosed in the deal, which is the first acquisition for Ontario-based PRC. In a recent news release, PRC President Gene Gregory said the acquisition of Chino-based Globe brings new and complementary capabilities to his firm.
The acquisition "will increase demand for our molding compounds and allow us to expand our customer base in new markets such as oil/gas, lighting and high-tech products," he said, adding that the deal "diversifies PRC's sales and expands our platform for future growth."
"We are fortunate to acquire such an outstanding company and group of dedicated employees, especially with its close proximity to PRC," Gregory said. The two facilities are only about six miles apart.
Globe specializes in compression, transfer and injection molding as well as custom mold, insert and tool making services. The firm has been providing precision compression molded products and services to aerospace, sound, lighting, oil/gas and high-tech customers since 1957.
Globe's capabilities include small to medium sized molding equipment from 1 to 500 tons. The company employs 20 at a 12,000-square-foot facility in Chino and will continue to operate at this location, officials added.
Last year, Globe was honored by the U.S. Navy and by aerospace and defense supplier Lockheed Martin for its work with the Navy's Fleet Ballistic Missile program. Globe has supplied Lockheed Martin with thruster pad components for almost 40 years.
PRC is a privately held, minority-owned business that employs more than 100 at a 100,000-square-foot facility. Its primary markets include aerospace, defense, transportation, safety and infrastructure. PRC's capabilities include producing custom bulk and sheet molding compounds with a variety of different resins, fibers and additives.
PRC's manufacturing processes include compression, open, hand lay-up, vacuum bag and vacuum infusion molding to produce composite parts such as high value content transportation containers, utility vault covers, food service trays and detectable warning panels.
PRC is a recognized Silver Supplier to Boeing and qualifies for the Indian Incentive Program working with prime Department of Defense contractors.