“Costapacking’s approach to customers, employees, quality, service and technology is a natural fit for Plastek,” said Dennis Prischak, Plastek President and CEO, in a prepared statement. “This acquisition complements our organic growth as part of a balanced strategy for the future.”

Rob Parker, Director at Grant Thornton said: “We are very pleased to have completed a going concern sale of the business, which secures the continued employment for a loyal workforce in these challenging economic times. S M Automotive Division Limited appears to be a great fit for the business and well placed to serve its customers in the future”.

A full-service provider of injection molded parts, complex assemblies and advanced tooling for the rigid packaging sector with a global footprint, Plastek (Erie, PA) has acquired Costapacking, a custom injection molding company based in Pirassununga, Brazil. Costapacking serves the food and beverage, personal care and home care industries of several Fortune 100 companies.

P J S Mouldings has been sold to S M Automotive Division, a subsidiary of Stechford Mouldings, which has been operating in the West Midlands for more than 80 years.

All operations will transfer over to the purchaser as well as all 71 employees. P J S Mouldings specialises in precision plastic and injection mouldings, supplying a variety of industries, with a focus on automotive.

In addition to its headquarters in Erie, PA, Plastek operates manufacturing facilities in Hamlett, NC; Mansfield, UK; Indaiatuba, Brazil; Queretaro, Mexico; and now Pirassununga, Brazil.

A global injection molder with toolmaking capabilities, Plastek (Erie, PA) has acquired Costapacking (Pirassununga, Brazil), which serves the food and beverage, personal care and home care industries of several Fortune 100 companies.

The Joint Administrators were advised on the transaction by the Squire Patton Boggs team and Hilco Valuation Services, in Birmingham. S M Automotive Division Limited was advised on the transaction by MFG Solicitors in Worcestershire.

Rob Parker, Jon Roden and Helen Dale of Grant Thornton were appointed joint administrators of the company and secured the sale of the business and its assets.

Launched in 2000, Costapacking operates more than 30 injection molding machines ranging in size from 150 to 600 tons and employs approximately 300 people. Co-founder Rodrigo Costa will join Plastek in a business development capacity.