Applied Tech Products’ wholly-owned subsidiary Applied Tech Products de Mexico, SA de CV last month acquired all of the assets of Fast Plastics, SA de CV, a Chihuahua, Mexico-based injection molder. Terms of the transaction were not disclosed.
“This expansion is a key part of our focus to provide our customers with a highly flexible, full-service manufacturing capability including designing, prototyping, tooling, molding, decorating, finishing and assembling,” said Ray Langton, co-founder and chief executive of Applied Tech Products.
Acquired in the deal was a two-year old manufacturing facility, which is situated on five acres of land in the Industrial Park Complex of Chihuahua. Applied Tech Products also acquired injection molding machines, ancillary assembly and decorating equipment.
“The close proximity to our customers operating in Mexico will increase our ability to respond to their needs and shorten their time to market,” Langton said.
Fast Plastics becomes Applied Tech’s 11th acquisition and fourth within the past six months.