Engineered Plastic Components Inc. has purchased a 125,000-square-foot Bessemer, Ala., manufacturing facility and assets of Najoya, Japan-based Inoac Corp., effective Sept. 28.
The acquisition includes equipment and technology, an Oct. 8 news release said.
Terms were not disclosed. EPC plans to spend about $7 million on 10 injection molding machines ranging from 300-3,000 tons of clamping force, the release said.
The Bessemer plant employs 165 and produces instrument panels and other components for Honda, Kia and Hyundai vehicles.
"Both EPC management and Inoac management have worked closely for the past several months to make sure this transaction was successfully and seamless to their customers," it said.
"We are very excited to have Honda and Mobis added to our Fortune 500 list of customers," Reza Kargarzadeh, EPC's president and CEO said. Hyundai Mobis is a South Korea-based Tier 1 supplier to Kia and Hyundai.
The purchase gives EPC a total of 15 manufacturing facilities. The West Des Moines, Iowa-based company ranks No. 35 in the current Plastics News injection molders survey with annual sales of $275 million. Inoac Interior Systems LLC of Farmington Hills, Mich., ranks at No. 50 with $190 million in injection molding sales.
EPC did not immediately respond to requests for comment.