Georgetown, Massachusetts -- UFP Technologies, Inc., which makes packaging and polymer foam components, has bought some assets of Foamade Industries Inc. of Hillsdale, Michigan.
UFP and Foamade are now formulating an agreement for transferring these assets to UFP's Grand Rapids, Michigan, facility in a way that minimises disruption to customers, said a 12 March statement from UFP.
"We are very pleased with this transaction," said Jeffrey Bailly, chairman & ceo of UFP Technologies, in the statement. "Foamade's two Hillsdale facilities would fit well within our Grand Rapids plant, which became part of UFP with our acquisition of Stephenson & Lawyer (S&L) in January 2008. The capabilities of Foamade and S&L are closely aligned. When combined, they will allow us to meet a greater range of customer needs in a highly efficient manner."
Michael Egren, Foamade's ceo, will join UFP Technologies: Bailly said, "With 35 years of experience and a great industry reputation, he will be extremely valuable in helping us grow our business."
Egren commented that Foamade's current customers will benefit from this move, and that the "combined operation will be highly attractive to new customers as well."
Georgetown, Massachusetts-based UFP Technologies makes interior protective packaging solutions using moulded fibre, vacuum-formed plastics, and moulded and fabricated foam plastics. It also engineers components using laminating, moulding, and fabricating processes. The company primarily serves the automotive, computers and electronics, medical, aerospace and defence, consumer, and industrial markets.
Foamade's website lists automotive products for interior trim, noise, vibration and harshness alleviation, and filtration, as well as water shields for water/noise management, thermo management products, and seals & gaskets.