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Cretex Companies Acquires Pacific Plastics & Engineering

Dépèche transmise le 23 mai 2011 par Business Wire

Cretex Companies Acquires Pacific Plastics & Engineering

ELK RIVER, Minn.--(BUSINESS WIRE)--Cretex Companies today announced that it has acquired Pacific Plastics & Engineering (PPE) (www.pacificplastics.com), a contract manufacturer of tight tolerance injection-molded plastic devices and components for the medical and electronics markets. Located in Soquel, CA, PPE offers engineering and design, tooling production, prototype, short-run and production molding, and assembly services in its FDA registered facility.

“We are delighted to add Pacific Plastics & Engineering to the Cretex family of companies”

“We are delighted to add Pacific Plastics & Engineering to the Cretex family of companies,” said Lynn Schuler, Chief Executive Officer of Cretex Companies, Inc. “This acquisition continues our growth in the attractive medical market and gives us a presence in the dynamic Bay Area, where medical device startup activity remains strong. PPE will compliment our existing medical portfolio companies of rms, Meier Tool & Engineering, and Juno. We are also pleased that founders Stephanie and Jack Harkness will remain engaged to help guide the business as we continue to grow upon the exceptional foundation they’ve built over the past 22 years.”

Terms of the acquisition were not disclosed.

About Cretex Companies, Inc.

Cretex (www.cretex.com) is a privately held, diversified manufacturing company headquartered in Elk River, Minnesota. Its Commercial Products Group consists of rms Co., Meier Tool & Engineering, Inc., Juno, Inc., Pacific Plastics & Engineering, Inc. and Elk River Machine Co. This diverse group of companies provides contract manufacturing services requiring precision machining, metal stamping and fabrication, plastic molding, and heavy gauge metal machining and fabrication. Customers are primarily OEMs in the medical, aerospace, and industrial products markets. The Concrete Pipe Group is a leading provider of reinforced concrete pipe and other precast and prestressed concrete products serving the infrastructure needs of the central United States. Cretex’s Construction Products Group specializes in providing precast, prestressed concrete products for parking structures, bridges, and other commercial buildings in the central United States. Cretex Companies employs about 1,700 people in 38 locations in 11 states.