Injection molder Falcon Plastics Inc. has acquired full ownership of Poly-Cast Plastics (Suzhou) Co. Ltd., an injection molder based in Suzhou, China.
Falcon of Brookings, S.D., had co-owned Poly-Cast with Corry, Pa.-based injection molder Viking Plastics. This deal means that the plant in China, which was once co-owned by three U.S. injection molders, is now entirely owned by South Dakota-based Falcon.
When Viking was acquired in early August by private equity firm Hoffmann Family of Cos., it was not clear what was happening with the Poly-Cast business.
In a news release, Falcon officials said the Poly-Cast acquisition "strengthens [Falcon's] global footprint by providing enhanced molding services in the Asian market." No purchase price was disclosed.
They added the Poly-Cast facility will allow Falcon to better support U.S.-based customers with operations in Asia.
"At Falcon Plastics, our goal is to continuously evolve in ways that best serve our customers," Executive Vice President Kyle Bender said. "By becoming the sole owner of Poly-Cast, we can streamline operations and provide more efficient solutions for our global customer base."
The Suzhou plant was established in 2006 by Poly-Cast Inc. of Tigard, Ore. Viking Plastics became a partner in 2008, and Falcon bought a share of the business in 2011.
Falcon then bought Poly-Cast Inc. in 2019.
A 2017 feature story in Plastics News said that about 35 percent of the Suzhou plant's business was automotive; 25 percent heavy-duty truck and off-road vehicles; 25 percent electronics; and about 10 percent medical.
Falcon makes products for the electronics, medical, consumer, sporting goods, automotive/industrial and construction markets. In addition to the Brookings site, the third-generation, family-owned company has injection molding plants in Madison, S.D.; Lexington, Tenn.; and Tigard.
Falcon employs 260 in total.
Most of Falcon's sales come from injection molding. With 103 presses, the company pegged those sales at $59 million in 2023. It was No. 131 in the most recent Plastics News ranking of North American injection molders. Both of its South Dakota plants also have blow molding.
Falcon also does in-house tooling and ethylene vinyl acetate (EVA) foam processing.
Late last year, Falcon added about 5,000 square feet of office space to its plant in Brookings. At that time, the firm relocated its headquarters from across town into the new area.