Nefab will incorporate Precision’s modern production facilities into its offering. Credit: Konektus Photo via Shutterstock.

Sweden-based Nefab Group, through its US division Nefab Packaging, has completed the acquisition of Plastiform and its subsidiary Precision Formed Plastics. 

The acquisition is intended to bolster the company’s global market position and its commitment to resource-saving supply chains.  

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Based in Texas, US, Precision is known for producing high-quality thermoformed plastic packaging, focusing on high recycled content and cushion trays, as well as other thin-gauge solutions. 

The company also has a history spanning more than five decades, providing leading industry customers with sustainable packaging products. 

With modern production facilities in Dallas, Texas, Precision will enhance Nefab’s global portfolio and expertise in the production of thermoformed solutions.  

This acquisition comes as Nefab has been acquiring companies in thermoforming and sustainable packaging in the Americas and Europe in the last few years. 

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Nefab Group president and CEO Per Öhagen said: “Through this important acquisition, we further strengthen Nefab’s market position in the Americas and capability to support our customer in key segments such as Datacom and Cloud with thermoformed cushioning trays made from recycled plastics.

“Our strengthened market presence, in-house production capacity, and extended portfolio of sustainable solutions will enable us to serve our customers even better.” 

Following the acquisition, Nefab Group’s workforce will exceed 4,750 employees across 38 countries, with an annual turnover surpassing Skr10bn ($929m). 

Öhagen added: “With this strategic acquisition we further strengthen our ability to serve American and global customers with high-quality packaging solutions that generate both financial and environmental savings. We are happy to welcome the Precision Formed Plastics team to the Nefab Group.”