| SMC Molding and Manufacturing, a division of SMC Ltd. Press Release |  |
SMC Ltd. Announces Strategic Acquisition of Cycles Incorporated
Somerset, Wis. (April 2, 2007) — SMC Ltd, a multi-facility design, molding, and device manufacturing organization providing complete contract manufacturing services for the medical device and pharmaceutical industries, today announced the acquisition of Cycles Incorporated, a custom plastic injection molding company headquartered in Sterling, MA.
Cycles Incorporated is a strategic addition to SMC Ltd.'s business, providing additional technical capability, production capacity and industry presence in both the Northeast and Tijuana, Mexico. The acquisition adds three state-of-the-art facilities with over 114,000 square feet of space, three Class 100,000 clean rooms, tool making, and 45 molding presses ranging from 5-ton to 300-ton.
"The addition of Cycles Incorporated will allow SMC Ltd. to continue extending its leadership worldwide for custom injection molded components and finished, assembled and packaged products," said Chetan Patel, president, SMC Ltd. "Known for its molding technologies and delivery of products on time and on budget, the acquisition of Cycles Incorporated is in-line with the rigorous standards SMC Ltd. has brought to the industry."
"This is an exciting milestone for our company," said Larry Martin, former owner of Cycles Incorporated. "SMC Ltd.'s global reach, scale, manufacturing capabilities and customer relationships make it the ideal partner for Cycles Incorporated. Our combined teams will deliver solutions to our customers, and create exciting growth opportunities for our employees."
SMC Ltd. (www.smcltd.com)
SMC Ltd. offers complete contract manufacturing and molding services for the medical device and pharmaceutical industries. With 10 global facilities in the US, Mexico and India, SMC provides services including engineered design, thermoplastic molding including 2-shot, LIM and complete device assembly. Full product design, project integration, supply chain security, validation, packaging and labeling, and sterilization responsibility are systematically controlled. Facilities offer ISO 13485, FDA registered and clean room environments.
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