Thomson Plastics Inc. has purchased a 47,000-square-foot injection molding facility in Duncan, S.C., from Silver Basis Engineering to expand its large-tonnage molding capacity.
TPI "retained the entire staff and management team, which will continue to lead the plant through the anticipated growth of the next 12 months," Steve Dyer, CEO of Thomson, Ga.-based TPI, told Plastics News.
"TPI will be moving existing large-tonnage assets into the Duncan location and adding new equipment to facilitate the growth in revenue," he said.
The acquisition is expected to create 25 new positions in the next 18 months, Dyer said.
TPI declined to comment on the terms of the deal, which closed in October, including the cost of the investment.
"This strategic acquisition expands our geography and large-tonnage capacity up to 4,400 tons of clamping force and adds a 1,000-ton rotating platen, two-shot machine to our fleet to better serve our marquee customer base," he said.
"COVID changed a lot of market dynamics, and we see a need to tighten supply chains and reduce the cost and logistic complications of shipping large parts across long distances," Tom Talboys, senior vice president of program management and engineering at TPI, said.
The company hopes to become the leader in the region in large-tonnage injection molding, Dyer added.
"We are excited to be part of the TPI family and we look forward to the opportunity to grow and create family sustaining jobs for our region," John Holley, plant manager of the Duncan, S.C., location, said.