Release Date: October 9, 2012
ROYAL TECHNOLOGIES CONTINUES GROWTH WITH LETTER OF INTENT TO ACQUIRE HI-TECH PLASTICS IN MISSION, TEXAS
MISSION,TX—Royal Technologies Corporation announced today that the company has signed a letter of intent to acquire Hi-Tech Plastics, a custom injection molding company based inMission,Texas. For Hudsonville, Michigan-based Royal, the move supports the business growth the company has experienced over the past several years.
Royal and Hi-Tech have worked together to serve customer needs for more than a year, and the acquisition expands further the footprint Royal has developed to serve customers acrossNorth America. Royal said it expects to complete the transaction by the end of the year.
“We’ve seen solid growth in our Hudsonville operations as well as our facility in Cullman (Alabama),” said Jim Vander Kolk, Royal president and CEO. “With the acquisition of Hi-Tech in Mission, Texas we’ll be better positioned to serve existing customers and to pursuenew business with potential customers throughout the region.”
Hi-Tech Plastics has been providing plastic injection molding and large part molding solutions for customers who have come to rely on the company’s engineering and service. With decades of experience as a custom injection molder, Hi-Tech offers a full range of plastic injection molding services with responsive, professional engineering, high quality, and cost effective products.
“Over the past year as our working alliance with Hi-Tech has grown, we’ve developed a great deal of respect for what company founder Doug Bennett and his team have accomplished,” Vander Kolk said. “The alliance has helped us better serve customers in the automotive, furniture, and consumer products industries, and we are very excited about how we can grow from here.”
Royal Technologies Corporation develops, designs, manufactures, and assembles products for industries as diverse as automotive, furniture, and consumer products. From high-touch, Class-A surfaces to non-visual structural parts, the company designs and manufactures products for a broad array of applications. An employee-owned company, Royal was founded in 1987 and today employs 850 people at its Hudsonville, Michigan and Cullman, Alabama facilities.
Find more about Royal at www.royaltechnologiescorp.com.