Moldmaker Reko buys Michigan molder
As part of a diversification strategy, Reko International Group Inc. (Oldcastle, ON) will purchase a 80% interest i...
As part of a diversification strategy, Reko International Group Inc. (Oldcastle, ON) will purchase a 80% interest in a Michigan molding company. Reko will become the majority owner of Superior Plastics, while current owner Norm Mackie retains a 20% interest. Reko expects to complete the acquisition by Jan. 31, 2003.
“Reko has pursued this acquisition to further our growth and to support our customers’ needs for low-cost overflow molding capability. We expect to provide a cost-effective solution on shoot and ship components,’ explains Steve Reko, chairman and CEO of Reko International.
Superior has 27 molding presses, with some up to 1500 tons, and employs approximately 150 people at four sites in Rochester, MI.
Reko is a supplier of tools, molds, dies, automation services and specialty machining, with an emphasis on Tier 1 and Tier 2 automotive clients. In the company’s 2002 annual report, the strategy for the next few years is to achieve sales growth through diversification of both customers and products.