Amaray to spend 'millions' on acquisitions
European injection molding specialist Amaray is looking to buy complementary businesses in a bid to expand the business. The Corby, England-based company, which has two plants in the United States, has defined targets for growth within fast-moving consumer goods markets.
Amaray EU managing director Jamie Tinsley said in a news release: “We are particularly looking to acquire plastic injection molding manufacturers already supporting major brands to whom innovation, development and outstanding customer experience is key.”
Amaray has already issued what it called a “challenge” to the packaging industry, its packaging technologists, engineers and EU brand owners to allow Amaray to reverse-engineer current plastic packaging and show how Amaray’s experience and capabilities could add help customers.
Marketing manager Neil Pentecost told PRW that the firm has “millions” to spend on new purchases, with the firm looking to target smaller injection molding companies and possibly blow molding firms to complement its current offering.
Pentecost added that the firm has also restructured its management team.
“Previously we were run by three or four senior managers,” said Pentecost. “Now we have a management team of 12, from all departments of the business, which includes production, marketing and finance.”
Amaray is part of ASG Worldwide, which is owned by investment firm Atlas Holdings LLC of Greenwich, Conn. The company claims to be Europe’s largest manufacturer of DVD boxes, and it also serves the personal care, home care, food packaging, pharmaceutical and specialty molding markets.
Amaray has molding plants in Corby; Pittsfield, Mass.; Elizabethtown, Ky.; and Freden, Germany.