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UFP Technologies, Inc. Release date: September 3, 2009
Georgetown, Mass., September 3, 2009. UFP Technologies, Inc. (Nasdaq: UFPT), a manufacturer of packaging and component products, today announced that it has purchased certain assets of Advanced Materials Group ("AMI") in Rancho Dominguez, California. AMI, a foam fabricator serving the medical market, filed for relief under Chapter 11 of the United States Bankruptcy Code on July 2, 2009. UFP's purchase of selected assets of AMI was approved by the Bankruptcy Court on September 2, 2009.
"We are very pleased with this transaction," said R. Jeffrey Bailly, Chairman & CEO of UFP Technologies. "With its ISO 13485 Quality Certification, FDA certification, and clean room capabilities, AMI's facility is ideally suited to meeting the needs of our medical customers. It also strengthens our position on the west coast; with the Rancho Dominguez plant just 85 miles from our Ventura facility, we will also have the option to increase efficiencies by combining these two California operations."
"Following our acquisition of selected assets of Foamade Industries and E.N. Murray Company, AMI is our third transaction this year," Bailly continued, "demonstrating the exciting acquisition growth opportunities that exist for UFP Technologies."
UFP Technologies is a leading designer and manufacturer of interior protective packaging solutions using molded fiber, vacuum-formed plastics, and molded and fabricated foam plastics. The Company also designs and manufactures engineered component solutions using laminating, molding, and fabricating technologies. The Company primarily serves the automotive, computers and electronics, medical, aerospace and defense, consumer, and industrial markets.
Company Information:
Name: UFP Technologies, Inc.
Address: 172 E. Main St.
City: Georgetown
State: MA
ZIP: 01833 2107
Country: USA
Phone: 800-213-6278
FAX: 978-352-7169
http://www.ufpt.com
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Other News from this company: |
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United Foam, a UFP Technologies Brand, Offers Pelican® Storm Cases and Pelican's Hardigg® Case Product Lines
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UFP Technologies Acquires E.N. Murray Co.
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UFP Technologies, Inc. Named to FSB 100
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Molded Fiber, a UFP Technologies Brand, Announces Improved Sustainable Packaging Capabilities
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United Foam, a UFP Technologies Brand, Improves Capabilities and Response Time at their Decatur, Alabama Facility
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United Foam, a UFP Technologies Brand, to Exhibit Custom Medical Solutions at MD&M West
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Molded Fiber, a UFP Technologies Brand, Receives ISO-14001:2004 Environmental Management System Standard Certification
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UFP Technologies, Inc. Announces the Launch of United Case(TM)
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United Foam, A UFP Technologies Brand, Creates Tool Control Solution For The United States Army And Marines
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Molded Fiber's Green Packaging: Sustainability Merges With Packaging For The Retail And Health & Beauty Markets
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UFP Technologies Inc. Launches New Brand
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UFP Technologies Launches Three Brands
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UFP Technologies Provides Biodegradable Packaging for Pangea Organics Bar Soaps
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UFP Technologies Announces Acquisition of Stephen Packaging
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UFP Technologies Provides Beerhugs with Insulated Grip to Keep Hands Warm Even with the Coldest Beverages
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UFP Technologies Named a Fabricator of Aspen Aerogels Insulation Technology
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