West Pharmaceutical Servicesto Acquire The Tech GroupWest Pharmaceutical Servicesto Acquire The Tech Group
July 4, 2005
Originally Published MPMN July/August 2005
West Pharmaceutical Servicesto Acquire The Tech Group
The Tech Group’s European headquarters, located near Dublin, Ireland, provides custom injection molding and contract manufacturing services.
West Pharmaceutical Services Inc. (Lionville, PA; www.west pharma.com) has agreed to acquire the business assets of The Tech Group (Scottsdale, AZ). The Tech Group manufactures plastic components and assemblies for the pharmaceutical and medical device markets.
In the healthcare market, the company’s facilities are FDA registered and compliant with ISO 9001, 9002, and 14001 standards. Services include injection molding of components and such devices and value-added services as Class 10,000 and Class 100,000 cleanroom molding, device assembly, and packaging.
West will pay $140 million in cash for the assets, which include nine production facilities in Arizona, Michigan, Indiana, Puerto Rico, Mexico, and Ireland. West will not acquire The Tech Group’s ownership interest in The Tech Group Asia.
“This acquisition is a key part of our global strategy to leverage our position as a leading supplier to the pharmaceutical and healthcare industries and strengthens our presence in key markets,” says Donald E. Morel Jr., PhD, West’s chairman and chief executive officer. “West will now be positioned as a significant player in manufacturing high-precision plastic components and devices for the medical and consumer markets.
Tech Group’s European headquarters is located near Dublin, Ireland. There it employs about 160 people and provides custom injection molding and contract manufacturing services. Morel says, “This acquisition strengthens our ability to more readily meet the needs of our European customers.”
Steve Uhlmann, chairman of The Tech Group says, “We believe the acquisition by West Pharmaceutical Services provides a wider and more stable global footprint for both businesses. As a combined business, The Tech Group and West Pharmaceutical Services will be positioned as a key player in the growing medical device and consumer markets.”
Copyright ©2005 Medical Product Manufacturing News
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