BALDWIN, Wis. (July 29, 2010)—Gaining a foothold in the U.S. medical market, Swedish firm Nolato A.B. has acquired medical molder Contour Plastics Inc. of Baldwin, Wis., now Nolato Contour.
In 2010, Nolato Contour is expected to record sales of $22 million, with more than 80 percent of that coming from the medical business.
Nolato said the acquisition of Contour for $22 million, announced July 26, would have a “marginal positive impact” on its corporate earnings during 2010.
In fiscal 2009, Nolato Medical had $632 million in sales and earnings of $89 million.
That's the smallest business segment of Torekov, Sweden-based Nolato A.B., representing 27 percent of its $2.6 billion in sales in 2009. But Nolato Medical accounted for nearly half, or 46 percent, of the 2009 earnings of Nolato, which had nearly 8,000 employees and serves the medical, telecom, hygiene and automotive industries.
Contour founder Barry Grant will remain as president of Nolato Contour, which has 180 employees and a 9,000-sq.-ft. manufacturing plant that includes two clean rooms, in Baldwin.
Nolato Medical has plants in Sweden, Hungary and China and focuses on drug-delivery products, catheter balloons, blood-collection systems and pharmaceutical packaging.