Essentra Buys Micro Plastics

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 feet production facility in Flippin, Arkansas as well as a production subsidiary in Mexico. It reported sales of US$26.8 million and EBITA of US$1.7 million in its last full year to end 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 components 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.”

Date : 17.05.2018