|Image courtesy Injection
Parkway Products LLC (Greenville, SC), a diversified manufacturer offering six product technologies, announced it has completed the acquisition of Injection Technology Corp. (ITech; Arden, NC). The acquisition includes two facilities located in Arden and Westminster, SC, and will expand Parkway’s thermoplastic injection molding capacity, including large tonnage capability.
“We have been working for quite some time to make this transaction happen and I am pleased that the Itech employees, customers and plants will continue in Parkway’s capable hands,” commented Carl Morris, ITech founder and CEO.
The Westminster and Arden facilities round out Parkway’s geographic presence in the southeast United States and further complement Parkway’s available press clamp tonnage greater than 1,000 tons. Parkway CEO Al Ridilla said, “We are excited to add much-needed regional capacity to support the growth needs of our clients and look forward to leveraging the combined horsepower of our Tennessee, North Carolina, South Carolina and Georgia operating teams to service new opportunities.”
Parkway plans to align the new facilities with its regional thermoplastic molding centers in Greeneville, TN, Seneca, SC, and Marietta, GA to better serve customers’ needs. Parkway also offers thermoplastic injection molding at its Ft. Collins, CO, and Saltillo, Mexico, facilities. This transaction brings Parkway’s North American footprint to 11 operations, seven of which are focused on thermoplastic injection molding. Increasing the company’s thermoplastic molding options from five to seven manufacturing facilities not only establishes a substantial injection molding business for Parkway, but keeps the company focused on its thermoplastic roots.
In addition to injection molding, Parkway Products, founded in 1946, offers magnesium thixomolding, composite polymer molding, paint and laser etching, and plastics machining at 11 production facilities in the United States and Mexico. The company currently operates 262 molding machines including 192 thermoplastic injection machines ranging from 17 to 1,750 tons. Parkway Products has more than 750 employees, and serves industry leaders in the infrastructure, industrial, aerospace and electronics, automotive, agriculture off-road and truck, and healthcare markets.