06-30-2023, 06:48 AM
Tide Rock Holdings (Cardiff-by-the-Sea, Calif.) is continuing its acquisition streak, purchasing Plastic Molding Technology (PMT), a full-service precision injection molding company located in El Paso, Texas. PMT joins Colorado-based molders Pikes Peak Plastics and Altratek as portfolio holdings in a new plastics injection molding company that serves the industrial, energy, electronics, medical, telecommunications and automotive industries.Get more news about Innovative Mold And Design,you can vist our website!
Tide Rock’s broader plastics manufacturing and electro-mechanical contract manufacturing portfolio also includes Interconnect Solutions Company (Fountain Valley, Calif.) and Plastics Design and Manufacturing (Centennial, Colo.) and it will be led by Michael Engler, Group CEO. In a release, Engler said the PMT acquisition expands its highly skilled workforce and brings it to a total of 95 molding machines ranging in clamp force from 20 to 500 tons.
PMT is an ISO 9001, ISO 14001 and IATF 16949-certified manufacturer of precision-engineered, injection molded plastic components. The business was founded in 1973 by Charles E. Sholtis, father to Charles A. Sholtis, former CEO who will remain as an advisor to the business under Tide Rock. In 1973, the company began life as Prototype Molding Co. and was based in Bridgeport, Conn. In 2001, PMT opened a satellite facility in El Paso, and eventually it completely shifted operations to Texas in 2004.
To date, Tide Rock’s investments have targeted the western U.S., but a company spokesperson said its purchase of CableMaster Corp. has extended its presence into the Midwest. “The reason for that focus is that we’re looking for synergies and addressing what our customers need,” the spokesperson said, “and the locations in Colorado and Texas are strategic for us.”
In a release, Sholtis said he hopes to work with Tide Rock on building off what PMT has created. “I look forward to having the ability to expand our capabilities and capacity as a Made-in-USA manufacturer,” Sholtis said. The spokesperson noted that Sholtis and Engler are in the process of evaluating what investment needs PMT might require in infrastructure, equipment and people to continue to grow.
Tide Rock’s broader plastics manufacturing and electro-mechanical contract manufacturing portfolio also includes Interconnect Solutions Company (Fountain Valley, Calif.) and Plastics Design and Manufacturing (Centennial, Colo.) and it will be led by Michael Engler, Group CEO. In a release, Engler said the PMT acquisition expands its highly skilled workforce and brings it to a total of 95 molding machines ranging in clamp force from 20 to 500 tons.
PMT is an ISO 9001, ISO 14001 and IATF 16949-certified manufacturer of precision-engineered, injection molded plastic components. The business was founded in 1973 by Charles E. Sholtis, father to Charles A. Sholtis, former CEO who will remain as an advisor to the business under Tide Rock. In 1973, the company began life as Prototype Molding Co. and was based in Bridgeport, Conn. In 2001, PMT opened a satellite facility in El Paso, and eventually it completely shifted operations to Texas in 2004.
To date, Tide Rock’s investments have targeted the western U.S., but a company spokesperson said its purchase of CableMaster Corp. has extended its presence into the Midwest. “The reason for that focus is that we’re looking for synergies and addressing what our customers need,” the spokesperson said, “and the locations in Colorado and Texas are strategic for us.”
In a release, Sholtis said he hopes to work with Tide Rock on building off what PMT has created. “I look forward to having the ability to expand our capabilities and capacity as a Made-in-USA manufacturer,” Sholtis said. The spokesperson noted that Sholtis and Engler are in the process of evaluating what investment needs PMT might require in infrastructure, equipment and people to continue to grow.
