Coral Products has announced the acquisition of ICM’s assets comprising injection moulding machines, some with robot handling, chillers, mixers and cranage, from its administrators for £0.6m ($0.74m).
Coral Products is a manufacturer of injection moulded plastic products, while ICM is a producer of automotive injection moulded parts.
Coral Products engaged Cairn Financial Advisers as nominated adviser, Daniel Stewart & Company as broker, and Capital Markets Consultants as PR advisor for the acquisition.
Beverage can maker Ball has sold its Hubbard metal packaging plant to Bway, a rigid metal and plastic containers manufacturer based in the US.
Bway operates 25 plants across the US and Canada, where it manufactures multiple varieties of cans, in addition to rigid metal and plastic containers and ammunition boxes.
The transaction will allow Bway to increase its production capacity in tandem with the sales growth.