Swiss injection mould makers Adval Tech (Niederwangen; www.advaltech.com) has found a buyer for its Mexican injection moulding and assembly facility as well as for its medical technology activities in Suzhou, China in US-based outsourcing provider Philipps-Medisize (Hudson, Wisconsin; www.phillipsmedisize.com/). No financial details of the transaction have been disclosed. The sale does not include the Grenchen / Switzerland location of subsidiary Teuscher Kunststofftechnik.

Stating that the sale of these international activities was in line with the new company strategy, Adval Tech says it plans to focus on its core business in mold making and a few selected activities in its components business. Meanwhile the Midwestern outsourcing company, which specialises in providing design and manufacturing services to the medical and commercial markets, will take on 350 employees affected by the transaction. Thus, the employees from the Mexican site, Omni Manufacturing Services, as well as the workforce from the Chinese location, Adval TechMedical, now are part of Philipps-Medisize.

In 2012, the Swiss company underwent a group restructuring following a 10% drop in its 2011 revenues, which the company partially attributed to a strong Swiss franc – see Plasteurope.com of 24.04.2012.

Philipps-Medisize has annual sales of close to USD 500m (EUR 376m) and employs more than 2,100 individuals in 12 locations in the US, Europe and China. The company grew out of Philipps Plastics, a company begun in 1964, and through an acquistion in 2011 when it purchased the Finnish-based Medisize from Swedish private equity group Ratos (Stockholm; www.ratos.se) – see Plasteurope.com of 12.07.2011.