Erie, Pa. — Plastek Industries Inc. has purchased the assets of a closed Coveris factory in Anderson, S.C., including about 40 injection molding machines.
Plastek President and CEO Dennis Prischak said the Erie-based custom molder closed on the operation in mid-2017, as Coveris Holdings Corp. was shutting down the plant that made personal care packaging. Coveris moved some of the work to another Coveris factory in Excelsior Springs, Mo.
"Coveris was rationalizing it and it was a great opportunity," Prischak said.
"The facility's shut down. The facility's not operational," he said. "They shut it down as we bought it. And we bought the assets. We did not buy an ongoing business."
Prischak said Plastek has already moved some of the machinery out of the Anderson building to its other locations, in Erie, Hamlet, N.C., and Quarétaro, Mexico.
"We left everything there [in Anderson] and we're using them as we need it," he said.
Terms of the deal were not disclosed.
Dennis Prischak said Plastek made a strategic move to buy the assets.
"It was a great deal. We got good value. We got 40-some-odd molding machines at a very good price. Not brand new, but in good condition," he said. "We got land and a building for future growth. We have customers that are in the area that we want to try to develop for more business. To us, that was a value play. That was a growth play. Because there is a lot of potential business from a lot of our current customers in that region."