Hong Kong-based plastics processor Ace has established a joint venture with a Mexican injection molding company Isgo Manufacturing.
Ace has acquired 50% of Isgo Manufacturing as part of the company’s strategy to establish a global presence and to lessen its risk from rising costs in China’s coastal manufacturing zones, reported Plastics News.
In 2008, Ace had announced a partnership with Irish mold maker Avenue Mould Solutions, but did not complete that venture.
Ace has expanded globally in recent years, establishing an engineering and design office in the UK and, last year, an office in India.
Ace recently announced plans for a new manufacturing plant in China’s Anhui province to focus on the country’s internal market.
Isgo Manufacturing has two factories in Mexico and more than 50 injection molding machines targeting the automotive, home appliance, packaging and electronics markets.