Injection molder for Packaging bought by Rexam

The Rexam global packaging group has acquired US-based Delta Plastics who employs over 350 people for $154m.

Delta Plastics designs and manufactures jars and closures primarily for the personal care and food packaging sectors. They also have a technology center, which designs, develops and manufactures Delta Plastics own molds and automation equipment.

Delta Plastics 2004 sales reached $50m and it had net operating assets of $49m was previously owned by private equity fund Stonebridge Partners, which took control in June 2003.

Rexam chief executive Lars Emilson said: "Delta Plastics is a well run operation that has posted impressive growth rates in recent years.

"The acquisition is perfectly in line with our strategy to grow our Plastic Packaging business and enhance our current product offering. It will increase our presence in the important US market and we foresee a number of synergies in areas such as raw materials purchasing, technology access and additional sales."