Nordson Acquires Value Plastics
“Value Plastics has generated outstanding growth over an extended period by providing differentiated, single-use, precision-molded plastic components that are delivered through a highly efficient sales process and supported by exceptional customer service,” said Michael F. Hilton, president and CEO of Nordson. “This model represents the same highly successful approach that we employ within our Nordson EFD product line today.
“In addition, Value Plastics supports Nordson’s strategic objective of building upon our medical and life sciences platform, and complements our existing growing positions in biomaterial delivery devices and medical device assembly. Value Plastics is an ideal addition to the Nordson portfolio, where our global reach and infrastructure will provide opportunities to leverage the business’ profitable growth beyond its primary domestic markets served and into general industrial markets. In line with this strategy, Value Plastics will operate as part of Nordson’s Advanced Technology Systems segment, which operates on a global basis.”
The $250 million purchase price, subject to adjustment as provided in the purchase agreement, will be financed with availability under an existing $400 million revolving credit facility. The transaction is expected to be accretive to Nordson’s earnings in the first full year of acquisition.
For additional details, visit www.valueplastics.com or www.nordson.com.