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Article: UFP Technologies acquires FCE Industries; Acquisition provides strategic Midwest location.
- Article from:
- Business Wire
- Article date:
- February 4, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GEORGETOWN, Mass.--(BUSINESS WIRE)--Feb. 4, 1997--UFP Technologies, Inc. (Nasdaq: UFPT), today announced that it had acquired substantially all of the assets of FCE Industries, Inc. (FCE), a designer and manufacturer of engineered foam plastics for packaging and specialty applications based in Addison, Illinois, outside of Chicago.
"This is a terrific acquisition for the company, both strategically and in the interests of shareholder value," said R. Jeffrey Bailly, President/CEO of UFP Technologies. "FCE Industries gives us a key strategic location in the Midwest and expands our geographic reach. We expect it to add between $4-5 million in revenues in 1997, ...