IPL extends North American plastics reach with US acquisition
Encore Industries adds three plants making IPL third largest player in US market.
IPL, a Montreal-based manufacturer of injected moulded plastic products, is also investing $36 million to expand production capacity in Canada and the US.
Encore, based in Sandusky, Ohio, makes rigid plastic packaging products for the North American industrial packaging market operating from facilities in Ohio, Georgia and Minnesota.
The acquisition represents a collaboration involving IPL’s parent company One51, and partners Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ. It will expand opportunities for IPL in the North American market, add an extensive customer base, add to its capacity, and enhance its new product development capabilities.
IPL has plants located in Saint Damien, Que., Edmunston, NB and Lee’s Summit, Mo. One51, based in Dublin, focuses on plastics and environmental services.