UK plastics supplier Essentra Plc has acquired Micro Plastics, the US manufacturer of nylon fasteners and other plastic components.
Micro Plastics operates a 238,000 square foot (approximately 22,000m2) production facility in Flippin, Arkansas, as well as a production subsidiary in Mexico. It reported sales of US$26.8 million (€22.2 million) and EBITA of US$1.7million in its last full year to the end of June 2017. Micro Plastics has been family managed since its establishment in the early sixties and now employs around 400 people.
Paul Forman, chief executive, said: “The acquisition of Micro Plastics is consistent with our strategic objective in our components division of identifying value-adding acquisition growth opportunities to consolidate our position as an expert manufacturer and distributor of a wide range of low cost components. As a leading provider of fasteners, Micro Plastics significantly enhances our offering in the US for one of our core product ranges and adds custom injection moulding capability, as well as providing compelling cross-selling potential. In addition, through the site in Monterrey, we will extend our manufacturing footprint and gain access to a number of high growth end markets – such as white goods and automotive – in Mexico.”
The company will report under Essentra’s components division. Terms of the acquisition were not disclosed.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
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