Methode Electronics Inc. (Chicago) has acquired certain assets and liabilities of Nypro's Monterrey, Mexico injection molding and painting business, Nypro Monterrey S. de R.L. Methode and Nypro did not supply the specific terms of agreement, but Methode said acquiring Nypro's assets versus building up a greenfield site will save it around $8.0 million.
The acquisition includes 52 injection molding machines, three paint lines, and several pad print machines. Methode will continue production of injection-molded components for the operation's current customers, whose contracts will transfer to Methode along with the assets. Additionally, 228 Nypro employees will transfer to Methode. ...