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Simtec aims for global growth under Rico umbrella

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Simtec's production plant in Florida
Simtec's production plant in Florida.

MIRAMAR, Fla.—Simtec Silicone Parts L.L.C. has become the fourth silicone company to join forces under the umbrella of a new global entity called Rico Group, which has purchased an unspecified number of Simtec's shares.

It will team with Rico Elastomere Projecting GmbH of Austria, Switzerland-based Silcoplast A.G. and HTR Rosenblatti GmbH, a subsidiary of Rico Elastomere, to create a major network of companies that focus on liquid silicone molding, according to a Rico Group spokesman.

Each of the businesses will operate separately out of its own plant but will partner with the other firms in providing products and services to customers and contribute their expertise to the group, he said.

“All of the Rico Group companies are independent but are working together and share common goals and objectives,” the spokesman said.

Each company will contribute its expertise to the group, he added.

Miramar-based Simtec is a manufacturer of liquid silicone rubber parts and high precision two-shot components for the automotive, consumer goods, medical technology, baby articles and lighting, irrigation, valve technology, and seals sectors.

Rico Elastomere is a specialist in injection molding tools, automation and production of parts made from elastomers, in particular LSR and solid silicone rubber.

Its injection parts are produced using one-, two- or multi-component injection molding.

The company primarily serves the automotive industry.

Silcoplast uses LSR, thermoplastics and rubber to produce a variety of products for the medical and electrical industries. The company also has a Class 7 clean room.

HTR specializes in curing technology and has a new generation of vacuum furnaces with a patented cooling system.

By partnering in one umbrella organization, the spokesman said, the four businesses will support each other with technology, capabilities and capacity. “The expectation is that they will be better able to serve their individual customers when they cooperate,” he said.

Simtec also gives the Rico Group processing capacity in the U.S.

Rico said the group's mold maintenance and engineering reach will span worldwide.

The group is capable of producing the first prototypes, can optimize the entire production system down to fully automated production and can produce products in Silcoplast's Class 7 clean room, it said.

In addition, other processes, such as installation of assemblies, product packing and delivery, are available.

Simtec's management team—headed up by founder and President Enrique Camacho—and its work force of about 50 will remain with the business, the spokesman said.

In a statement, Alfred Griesbaum, Johannes Grabner and Gerhard Kornfelder—founders and owners of Rico Elastomere and the Rico Group.—said their goal is to solve technically challenging problems encountered by customers “while supporting them from the development of their first designs to the finished products.”

Formed in 2001 in Wisconsin, Simtec is celebrating its 15th anniversary and has had double-digit sales growth over the last two years, it said.

The company relocated its operations to Florida in 2013.

“We have added several high precision LSR two-shot molding machines, expanded post-curing capabilities, enhanced value-added quality assurance services and invested over $8 million in new technology” to provide customers with the best solution for LSR and LSR two-shot parts and components, Camacho said in a statement.