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Three Injection Molding Businesses Form PSI Molded Plastics

Plastics Business

GI Plastek Corp., Precision Southeast Inc. and its subsidiary Plastic Solutions Inc. have merged to form PSI Molded Plastics. Gladstone Investment Corp., which owned the individual companies, is the owner of PSI Molded Plastics.

Daniel Mills, former president and CEO of Wolfeboro, New Hampshire-based GI Plastek, will serve as president and CEO of the newly formed company. Mills had been a board member of Precision Southeast since 2016, which fostered communication between the organizations.

The merger, which will expand capabilities by enabling increased production of small and large injection molded components at various volumes, brings the company's total injection molding machine count to 104, with clamping forces ranging from 22 tons to 1,574 tons. An additional 2,100-ton press is arriving soon.

For more information, visit www.giplastek.com.