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February 18, last updated February 18, 8: Executives of Jabil Circuit, which is buying Nypro Inc. Main, told stock analysts and media following the announcement that Jabil doesn't do many acquisitions.
Yet when it does, he said, it tends to keep most of the acquired firm's employees. Main said his team will work out consolidation plans over the next few months while the deal goes through the approvals process. That message fell upon relieved ears among Nypro's employees in Clinton the company employs 12, globallyand could be important as a ratification vote looms among Nypro employees who own portions of the company under its employee stock ownership plan ESOP.
So why would it want to be acquired? Simply put, Nypro needs both an infusion of Nypro presentation that's been hard to get under an ESOP structure, and new capabilities that it doesn't have but that customers want. Ted Lapres, president and CEO, said in a telephone interview that Jabil is an "excellent, strategic fit.
He added that customers have started to demand more vertically integrated contractors, vendors Nypro presentation have capabilities to provide multiple production processes during various stages in the making of a particular product.
Nypro began noticing a shift in the consumer electronics market in China several years ago, specifically among cell phone makers.
Integrated players were scooping up manufacturing contracts at low prices. Jabil increased its presence in that market through its acquisition of Green Point, a Taiwan-based manufacturer of handset cases.
The bigger-is-better trend has also started to occur in Nypro's largest market — health care. Becoming a division of Jabil pronounced JAY-bill would provide a combination of capabilities in both plastics packaging and parts as well as electronics design, he said.
David McKeehan, president of the North Central Massachusetts Chamber of Commerce, of which Nypro is a member, said he's happy Nypro will remain a key member of North Central Massachusetts' plastics cluster, which has shrunk over the years but still remains the largest in the Northeast.
The cluster employed around 5, people inaccording to a chamber analysis.
As for Jabil's entry into the plastics market just five years ago, McKeehan called the acquisition of Nypro "a hell of a way to ramp up. The acquisition would make Jabil a major player in the health care and packaging markets, adding hundreds of millions of dollars in revenue to its health care and instrumentation business division, which accounted for just 8 percent of its sales in fiscal In addition, Nypro brings generally longer product cycles compared to Jabil's other business lines, which could help even out earnings volatility for the publicly-traded firm.
Jabil also likes Nypro's reputation in the industry. The Clinton manufacturer has had decades-long relationships with some of the biggest companies in food and beverage, household and consumer care. To leverage that reputation, Jabil executives said the Nypro name and brand would be prominent.
Victim Of Its Success?
Gordon Lankton, Nypro's chairman, sold virtually all his stock in the company 15 years ago to the ESOP, making Nypro one of the largest employee-owned firms in the country. Employees receive shares each year based on individual performance, years of service and other factors.
The shares' value is periodically assessed, and employees can cash out when they leave or retire. The plan has made millionaires of a number of Nypro retirees, Lapres said, but it has restricted how Nypro has been able to raise capital for growth. For example, the company has to keep enough money to pay out departing employees.
Also, it can't sell much stock to outside investors, because its ESOP restricts outside ownership to less than 10 percent.Managing Innovation at Nypro Inc. (A) Case Solution,Managing Innovation at Nypro Inc.
(A) Case Analysis, Managing Innovation at Nypro Inc. (A) Case Study Solution, Introduction Nypro offers a variety of range in the plastic production processes and works as a supplier to the leading companies across the globe.
Being a. ST. PETERSBURG, Fla(BUSINESS WIRE)-- Jabil Circuit, Inc. (JBL) today affirmed it has completed its acquisition of Nypro, Inc., a provider of manufactured precision plastic products for customers in the Healthcare, Packaging and Consumer Electronics industries.
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During the past 20 years it had grown from a single plant in central Massachusetts to 18 production facilities located throughout the world. NYPRO was operating in 44 locations in 15 countries. CHAPTER 42 FLIXBOROUGH: THE DISASTER AND ITS AFTERMATH J.
E. S. Venart the NYPRO site, was the village of Amcotts; the village of Flixborough was on a small rise FLIXBOROUGH: THE DISASTER AND ITS AFTERMATH FIGURE Looking north over the rubble of the main ofﬁce building into section Jul 01, · Jabil Circuit Inc.
has completed its acquisition of Nypro Inc., according to a July 1 announcement by Jabil, the contract manufacturer in St. Petersburg, plombier-nemours.com .