TriMas, a manufacturer of engineered products that serve various industrial, commercial and consumer end markets, has completed the acquisition of Plastic Srl, a polymeric caps and closures manufacturer, located in Forlì, Italy.
TriMas, based in Bloomfield Hills of Michigan, operates three segments, including packaging, aerospace and specialty products. In November 2018, the company has announced the proposal for acquisition of Plastic Srl.
Plastic Srl is located approximately 80.46Km southeast of Bologna, in Forlì, Italy. The company primarily manufactures single-bodied and assembled caps and closures like child resistant closures for home care product applications, along with detergent and household cleaning products.
TriMas president and CEO Thomas Amato said: “We are pleased to have closed on this bolt-on acquisition and begin integrating Plastic Srl with our Rieke business, broadening our geographic presence, and adding adjacent products and designs to our current product offering.
“We welcome the Plastic Srl team to the TriMas organization and look forward to working together to serve our existing and new customers with our expanded product and manufacturing capabilities.”
Financial transaction details of the acquisition were not disclosed.
Plastic Srl claims that it serves the home care market in Italy and other European countries with more than 100 closure product designs, including several patented closure systems and generates approximately €10m revenue per annum.
Its child resistant closures can be used for handling dangerous products and gel liquids and few closures are provided with a spout hole inside to support runoff of the liquid from the bottle.
Plastic Srl’s product portfolio includes push-pull closures, dosing closures, pouring closures, closures with spout, flip-top closures, refill closures, closures with seal, special dishwasher, stain remover closures and bottles.
TriMas claims that it has around 4,000 employees in 13 countries, and manufactures products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets.
In July 2018, TriMas announced that the U.S. Department of Commerce has issued a preliminary finding to increase countervailing duties on high pressure steel cylinders imported from China.