The new company, located in Ocotlan near Guadalajara—strategically located to serve automotive firms in North and Central—has an installed production capacity of 8,000 tons per year and employs more than 30 people. The newly acquired Radici Plastics Mexico, will allow RadiciGroup, already present in North America with its Radici Plastics USA Inc. production unit in Wadsworth, OH, to operate directly in the Mexican market, thus strengthening its market and competitive position in both North America and Central America, said RadiciGroup's information.

"In the last three years, Mexico has kept up double-digit growth in our business," said Luigi Gerolla, CEO of the RadiciGroup's Plastics Business Area. "It is an extremely attractive market for us, particularly in automotive, a steadily growing business. The main players in the automotive industry—top brands such as BMW, General Motors, Nissan, Ford and Volkswagen—have been investing heavily in Mexico for some time, as have the major automotive parts manufacturers."

Danilo Micheletti, COO of the RadiciGroup Plastics Business Area for North America, South America and China, commented: "Radici Plastics Mexico, which is already in full operation, will synergistically combine our well-established sales network, our knowledge of the Mexican market and Resinas TB's competence in the polyamide industry with the state-of-the-art know-how in nylon chemistry and vertically integrated raw-materials production that epitomize our group."

Micheletti added that, with the acquisition, the company can support "a series of important new projects" the company is working on with the automotive industry in Mexico as well as all of Central America. "What's more, we can better support the customers we have been serving through our U.S. site, ensuring greater competitiveness in terms of both production and logistics. The technical content and quality of our raw materials, formulations and products, as well as our technology, will be identical to those available at all of RadiciGroup Plastics' other locations around the world," said Micheletti.

RadiciGroup Plastics is headquartered in Villa d' Ogna, Italy, and operates plants in China, the United States and Brazil in addition to its new Mexico facility.