CTB Inc. has purchased Ironwood Plastics Inc., including both of its manufacturing facilities. Ironwood Plastics is a provider of highly engineered, precision-molded plastic components serving primarily the industrial, automotive, military and electronics markets. The company operates from a 60,000 ft.2 design and production facility in Ironwood, Mich., and a 25,000 ft.2 production facility in Two Rivers, Wis. Terms of the transaction were not disclosed.
Both of Ironwood Plastics’ facilities are ISO 9001:2008 certified. The company has operated under some version of ISO 9000 quality standards since 1998. Ironwood Plastics specializes in close tolerance molding, insert molding, reel-to-reel molding, overmolding, foam in place, high-temperature materials, tooling/engineering, laser scanning and secondary operations.
Ironwood Plastics is expected to be integrated into CTB as part of a new business unit known as the Engineered Components Group. CTB’s existing Value-Added Processing unit will report to Mark Stephens as part of the new Engineered Components Group. No changes in staff levels are anticipated as a result of the acquisition.