Viking Plastics has acquired Kentucky Manufacturing & Technology to expand into Southeast US and into new markets.
Financial details about the transaction have not been disclosed.
KMT is a manufacturer of high-precision, custom injection molded products. Viking Plastics is a privately held, injection molding and value-added assembly service provider.
The Corry, Pennsylvania-based company has a product range that includes custom injection molded products and assemblies for the automotive, HVAC, and industrial markets.
Viking Plastics adds KMT’s capabilities to manufacture products for end markets including specialty packaging, specialty appliance, filtration, lawn and garden, and medical.
Viking claims that KMT is ISO 9000-2008 registered company and it has committed to produce reliable products that meet customer specifications.
Plastic News reported that KMT will add its 25 employees and less than 10 machines to Viking, which has about 125 employees.
Viking Plastics president/CEO Kelly Goodsel said: “Customer satisfaction is always our priority. KMT’s high standards reflect our own commitment to precision and continuous improvement.
“Our partnership will enable us to provide quality products to an even wider range of customers and position us for continued growth.”
In last December, a majority of stake in Viking Plastics was acquired by Spell Capital Partners. The goal of the stake acquisition was to support Viking in achieving $100m in revenue by 2020.
Viking serves automobile, air conditioning and other industrial markets. Its customers in the auto industry include Ford, Fiat Chrysler Automobiles and General Motors.