Subject: TNM
Nefab Group acquires Precision Formed Plastics, Inc. to expand its offering of sustainable thermoformed cushioning solutions
- US-based Precision Formed Plastics offers high quality thermoformed cushioning solutions
- Through this strategic acquisition, Nefab further strengthens its leading market position in the Americas and secures additional in-house thermoforming cushioning capacity
- Nefab continues to invest in sustainable solutions to better serve customers and to strengthen its commitment to saving resources in supply chains
STOCKHOLM and IRVING, Texas, April 2, 2024 /PRNewswire/ -- Effective April 1st, 2024 - Nefab Group, through Nefab Packaging, Inc. USA, has acquired Plastiform, Inc. and its subsidiary Precision Formed Plastics, Inc., a Texas based group specializing in high quality thermoformed cushioning solutions, made from recycled plastics, to further strengthen its global market position and commitment to saving resources in supply chains.
"Through this important acquisition, we further strengthen Nefab's market position in the Americas and capability to support our customer in key segments such as Datacom and Cloud with thermoformed cushioning trays made from recycled plastics. Our strengthened market presence, in-house production capacity, and extended portfolio of sustainable solutions will enable us to serve our customers even better.", says Per Öhagen, President and CEO of Nefab Group.
In the last couple of years, Nefab has acquired a number of leading companies in the areas of thermoforming and sustainable packaging solutions, in both the Americas and Europe. Thermoformed solutions provide the quality, precision and flexibility required in many industry segments when replacing less sustainable packaging materials e.g. foam. Moreover, the thermoformed solutions made from recycled plastics provide the circularity required from a sustainability perspective.
With the addition of Precision Formed Plastics, with modern production facilities in Dallas, Texas, Nefab's global portfolio and know-how in the production of thermoformed solutions is further strengthened. Precision Formed Plastics specializes in high quality and precise plastic cushioning solutions and has more than 50 years of history supporting leading industry customers with high quality and sustainable packaging products.
"We are honored and excited to join the Nefab Group and support their purpose and value proposition on a global scale in general and the Americas in particular. Nefab's market presence, customer-focus, and strong commitment to saving resources aligns well with our values, and we we look forward to continuing our growth journey together in the Americas and globally." says Jeff Jones, Owner and MD of Precision Formed Plastics, Inc.
"With this strategic acquisition we further strengthen our ability to serve American and global customers with high quality packaging solutions that generate both financial and environmental savings. We are happy to welcome the Precision Formed Plastics team to the Nefab Group," Per Öhagen concludes.
With the acquisition of Precision Formed Plastics, the Nefab Group will have over 4,750 employees spread across 38 countries, with a yearly turnover of over 10B SEK.
For more information, please contact:
Oscar Gestblom ([email protected])
EVP Marketing and Communication, Nefab AB
Mobile: +46 72 583 81 03
To find out more about Nefab's returnable packaging solutions, please visit our website Packaging Solutions | Nefab Group
About Nefab
Nefab saves environmental and financial resources by optimizing supply chains. We do this by innovating together with our customers to create smarter packaging and logistics solutions while always respecting people and high ethical standards. This contributes to a better tomorrow for our customers, for society and for the environment.
With more than 75 years of experience combined with competence and presence in more than 38 countries, we offer global solutions and local service worldwide to companies in industries such as Telecom, Datacom, Semicon, Energy, Healthcare equipment, Mining & Construction, and LiB & E-mobility. Nefab Group has over 4750 employees spread across 38 countries, with a yearly turnover of 10.3 BSEK. The owners are the Nordgren/Pihl family and FAM AB, a privately owned holding company within the Wallenberg Ecosystem.
About Precision Formed Plastics
Precision Formed Plastics is a Texas based producer of thermoformed plastic packaging with a specialty in high recycled content and cushion trays as well as other thin-gauge solutions. To cater for the high requirements of the solutions, the company does all production inhouse with high quality equipment and a very experienced team. The Group also includes the Plastiform unit, specializing in smaller batches and footprints. The company is a long-standing partner to Reflex Packaging which recently also became part of the Nefab Group.
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Press release (PDF) |
SOURCE Nefab AB
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