USA: Jabil Circuit Inc. announced an agreement to acquire Nypro Inc., a provider of manufactured precision plastic products for customers in the healthcare, packaging and consumer electronics industries, with over $1 billion in total annual revenues.
“The combination with Nypro will extend Jabil’s materials manufacturing capabilities into the healthcare and consumer packaging markets as well as add depth to our consumer electronics business," said Timothy L. Main, chairman and CEO of Jabil. “We think this is an important strategic step in Jabil’s development of engineering and capability intensive businesses. Combining Nypro’s capabilities and market presence with Jabil’s global scale and expertise should result in great things for customers, employees and investors.”
“Nypro is a leader in precision plastic consumables and disposables for the healthcare market. This will be a welcome complement to Jabil’s engineering and supply chain solutions for healthcare hardware and advances our ambition to become a leading provider to the global healthcare marketplace,” said Courtney Ryan, senior VP, Global Business Units. “We believe this significantly advances our healthcare strategy and broadens our value proposition for customers,” he continued.
“The combination with Nypro would also open an exciting new market in packaging for customers in the food and beverage, household and personal care industries,” said Bill Peters, President of Jabil (effective March 1, 2013). “The rigid plastic packaging market is a $140 billion addressable market globally. We are excited about aggressively pursuing this market on a global basis and look forward to working with the talented people within Nypro.”
“Jabil is an excellent strategic partner for Nypro," said Ted Lapres, president and CEO of Nypro. "Our complementary capabilities will allow us to offer our customers a more integrated manufacturing solution, while our employees will appreciate Jabil's similar culture and commitment to ongoing growth and innovation."
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