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Cambridge, Ontario, Canada -- ATS Automation Tooling Systems Inc. has acquired a leading micro-precision plastic injection molding company to add to the capabilities of its Precision Components Group.
The acquisition of Micro Precision Plastics (MPP) -- for total consideration of $8.6 million including assumed debt -- is now finalized. MPP is a fast growing, profitable, privately held company with annual sales of approximately $10 million. Based in Bowmanville, Ontario, MPP is a leading supplier of high-quality, micro-precision injection molded components and tooling to a diverse number of leading companies in the automotive, electronic and consumer products areas.
Founded in 1994, Micro Precision Plastics employs 84 people at a 21,500 sq. ft, ISO 9002 manufacturing facility that produces approximately 1,500 products using 42 light tonnage (7 to 85 tons) molding machines.
ATS Automation Tooling Systems Inc. is the industry's leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries including automotive, computer/electronics, healthcare, and consumer products. For more information, visit www.atsautomation.com.