American Innotek talks growth through acquisitionsAmerican Innotek talks growth through acquisitions
Earlier this month, American Innotek announced it will acquire Advanced Thermoforming Enterprise (ATE).American Innotek is a diversified consumer products company and parent to Westminster, CA.-based InterTrade Industries, a heavy and thin gauge plastic thermoformer, which is combining with ATE and will now be known as ATE-InterTrade.
November 25, 2013
"American Innotek's product lines continue to grow both in depth and in breadth, but the real growth over the years has come through acquiring other companies," Niki Kopenhaver, president & COO American Innotek/InterTrade Industries, told PlasticsToday. "Each of these acquisitions has made sense for the company, either due to expansion of core competencies, expansion of existing customer base, or vertical integration. ATE brings all three of these."
Kopenhaver said that the company's thermoforming operation in Huntington Beach has been a competitor to ATE in the medical packaging market. ATE's business gives the company immediate expansion in the medical market and allows it to grow, where medical previously represented 30% of InterTrade sales.
ATE specializes in developing medical plastic packaging, engineering and supplying thermoformed plastic packaging to medical and pharmaceutical companies domestically and internationally.
Operations will continue out of the Oceanside, CA facility, and all employees will remain in place.
"This acquisition gives us an immediate Disaster Recovery plan, which is very important in the medical market," Kopenhaver said. "Also, the ability to offer capacity in multiple locations assures the large medical companies that we will be able to meet fluctuations in demand."
The combined thermoforming operations include more than 70,000 sq-ft of space between the Oceanside and Westminster facilities, employing more than 50 people. At a minimum, Kopenhaver said the company will expand its clean room operations to meet the higher demand.
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