Plastek Industries Inc. has purchased a Brazilian company, Costapacking Indústria e Comércio de Plásticos Ltda., and now has two injection molding factories making packaging in Brazil.
Erie, Pa.-based Plastek officials said Costapacking, in Pirassunuga, Brazil, runs more than 30 injection molding machines with clamping forces ranging from 150 to 600 tons. The company supplies the food and beverage, personal care and home care markets for many global Fortune 100 companies.
Terms were not disclosed.
Plastek has operated in Brazil since 2000, when it built a factory in Indaiatuba. The company will run both plants, each one employing about 300 people, a company spokesman said.
Pirassunuga is about 90 miles north of Indaiatuba in the state of São Paulo.
Costapacking was founded in 2000 by brother and sister Rodrigo and Julianna Costa. Rodrigo Costa will join Plastek to further develop new businesses and customers.
The Brazilian molder will help Plastek provide a global reach for multinational customers.
"Costapacking's approach to customers, employees, quality, service and technology is a natural fit for Plastek and this acquisition complements our organic growth as part of a balanced strategy for the future," said Dennis Prischak, president and CEO of Plastek.
Rodrigo Costa said joining a multinational company "will provide a great future for Costapacking and our employees."
Carlos Massarotto, general manager of Plastek do Brasil, said: "This acquisition continues to solidify and demonstrate our confidence in the Latin American market as a continued source for Plastek's growth."