Sweden's Nefab Group AB is growing its already-sizable presence in North America with a just-announced purchase of PolyFlex Products Inc.
Nefab, a global thermoformer, supplies the electric vehicle market with logistics services and returnable packaging for lithium-ion batteries.
Read more in our updated story: PolyFlex CEO expects strong growth under Nefab ownership
PolyFlex uses a variety of processes to make custom packaging for materials handling and automated manufacturing process applications. Its products include large containers for automotive engines and trays for smaller items. In addition to automotive and electric vehicles, its markets include food and beverage, appliances, consumer goods and agriculture.
Farmington Hills, Mich.-based PolyFlex has two plants there, one each in Goodrich, Mich., and Morrison, Tenn.; and a warehouse in León, Mexico. It employs 187 workers in thermoforming, injection and reaction injection molding, and cast and foam polyurethane manufacturing.
PolyFlex, founded in 2003, ranked No. 110 in Plastics News' recent survey of North American thermoformers, with relevant 2022 sales of $9.9 million, five lines and 32 employees.
In total, the company employs 187 and has sales of about $52 million.
"Nefab's global scale, customer focus and strong commitment to saving resources resonate very well with our core values," PolyFlex CEO Mark Kirchmer said in a June 21 news release.
In North America, Nefab has about 20 operations including Nefab Packaging Inc. USA, based in Coppell, Texas. With the PolyFlex acquisition, Nefab will employ more than 4,500 in 35 countries. Its annual sales are about $925.7 million.
Nefab gained many of those assets in 2021 when it purchased thermoformer Reflex Packaging Inc. Reflex makes cushioning foam out of recycled materials for markets including telecom, electronics and lithium batteries.
Reflex gave Nefab locations in Santa Ana and San Jose, Calif.; Chicago; South Bridge, Mass.; Irving, Texas; Duiven, Netherlands; Kunshan, Wuxi and Dongguan, China; Chonburi, Thailand; Johor, Malaysia; Singapore; Calamba, Philippines; São Paulo, Brazil; and Guadalajara, Mexico.
Nefab operates Reflex as a separate entity based in Santa Ana.
Nefab, based in Jönköping, Sweden, is owned by its founders, the Nordgren/Pihl family, and privately owned holding company Foundation Asset Management AB of Stockholm.