Irving-based Plastiform and its subsidiary Precision Formed Plastics have been acquired by Sweden’s Nefab Group. The acquisition via Nefab Packaging USA further strengthens the Swedish company’s global market position and commitment to saving resources in supply chains, Nefab said.
The Nefab Group uses ocean-bound plastics in its cushioning solutions to contribute to cleaner oceans and environments. With the addition of Precision Formed Plastics, Nefab said it will have over 4,750 employees across 38 countries.
Plastiform specializes in high quality thermoformed cushioning solutions made from recycled plastics.
Terms of the acquisition were not disclosed.
“Through this important acquisition, we further strengthen Nefab’s market position in the Americas and capability to support our customer in key segments such as Datacom and Cloud with thermoformed cushioning trays made from recycled plastics,” Nefab Group President and CEO Per Öhagen said in a statement. “Our strengthened market presence, in-house production capacity, and extended portfolio of sustainable solutions will enable us to serve our customers even better.”
In the last couple of years, Nefab said it has acquired a number of companies in the areas of thermoforming and sustainable packaging solutions, in both the Americas and Europe.
Thermoformed solutions provide the quality, precision, and flexibility required in many industries when replacing less sustainable packaging materials, such as foam, Nefab said. Thermoformed solutions made from recycled plastics provide “circular” sustainability.
Generating financial and environmental gains
With the addition of Precision Formed Plastics and its modern production facilities in North Texas, Nefab’s global portfolio and know-how in the production of thermoformed solutions is further strengthened, the company said. Precision Formed Plastics specializes in high-quality and precise plastic cushioning solutions and has more than 50 years of history supporting leading industry customers with sustainable packaging products.
“With this strategic acquisition, we further strengthen our ability to serve American and global customers with high-quality packaging solutions that generate both financial and environmental savings. We’re happy to welcome the Precision Formed Plastics team to the Nefab Group,” Öhagen said.
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