(BRK.A), (BRK.B)
A subsidiary of Berkshire Hathaway’s Marmon Engineered Components Company has acquired PRISM Plastics, Inc. headquartered in Chesterfield, Michigan.
PRISM Plastics is a manufacturer of high-precision injection molded plastic components with a focus on tight tolerance automotive parts used in safety critical, electronic components, fuel systems products, steering systems and drivetrain components. The company has manufacturing facilities in Chesterfield and Port Huron, Michigan, Meadville, Pennsylvania, and Harlingen, Texas.
The Harlingen, Texas facility is located near Reynosa, Mexico and supports customers with Mexico-based manufacturing.
The company manufactures more than a billion parts per year, and in 2016 PRISM doubled the size of its business through the acquisition of Tech Molded Plastics.
PRISM Plastics was acquired from investment firm Altus Capital Partners, which acquired the company in 2014.
Rod Bricker, President and CEO of PRISM Plastics, stated, “With the financial and strategic resources from Altus, we were able to accelerate growth and stay competitive in an increasingly complex and technology-driven industry. We look forward to our new partnership with Marmon and our continued success.”
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.