UFP Technologies

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company

UFP Technologies, Inc. is a U.S. manufacturing company that was established in 1963 and is now based in Georgetown, Massachusetts. The company designs and manufactures custom-engineered components and specialty packaging solutions in medical, automotive, aerospace and defense, electronics, consumer and industrial markets in the United States. In January 2013, UFP Technologies acquired Packaging Alternatives Corporation.[1][2]

Products and services

UFP Technologies' applications include components, products, commodity packaging, and specialty packaging. The manufacturing uses lots of materials, like foam (cross-linked polyethylene foam, reticulated polyurethane foams, melamine, specialty foam), woven and non-woven fabric, molded fiber, plastics (rigid, rubber, corrugated), natural fibers, films and adhesives.

History

United Foam Plastics Corporation was founded in 1963 by William K. Shaw.[3]

In 1993, the company bought Moulded Fibre Technology Inc., a Maine-based company that manufactured packaging from recycled newspapers. The combined company was renamed as UFP Technologies.[3] UFP made its initial public offering on the NASDAQ exchange months later.[4]

In 1997, UFP acquired the assets of FCE Industries, Inc., an Illinois-based supplier of foam plastics with annual revenue of about $4 million.[5] The acquisition increased UFP's workforce to 420 employees.[5] UFP expanded to the West Coast in 1998 with the acquisition of Pacific Foam Inc., a California-based maker of packaging products for the health and beauty industry, with 100 employees and annual revenue of $8 million.[6]

The company expanded into the automotive market beginning in 1999, with a $12 million contract to produce head-impact production products for Ford.[7] In 2000, it acquired Simco Industries Inc., a Michigan-based maker of automotive interior trim, with 80 employees and $80 million in annual sales.[7]

References