MGS Mfg. Group Inc., headquartered in Germantown, announced it has purchased Hospira’s injection molding plant in Buffalo, N.Y.
The transaction is scheduled to close at the end of June this year. Financial terms were not disclosed.
The plant employs 120 people and runs 40 injection molding machines, ranging from 100-ton to 400-ton, producing parts for Hospira’s pharmaceutical and device businesses. As part of the agreement, the Hospira employees who work at the Buffalo facility will join MGS. No layoffs are planned as part of the purchase.
“This represents a strategic move for both companies,” says Paul Manley, MGS chief operating officer and chief financial officer. “MGS has made, and will continue to make, substantial investments in manufacturing technologies and capabilities to increase service to our healthcare industry customers. This opportunity with Hospira will benefit both of our organizations.”
“MGS’s expertise in cost-efficient custom manufacturing and molding of components and sub–assemblies better positions Hospira to meet customers’ evolving needs for molded parts,” says Matthew Stober, senior vice president of operations for Hospira. “MGS meets or exceeds the ISO and FDA guidelines for single-use disposable plastics manufacturing and will ensure supply continuity is maintained at all Hospira facilities.”
MGS Mfg. Group is a leading supplier to the global plastics industry of tight-tolerance injection-molded components, injection molds, specialty multi-shot equipment and automation systems.