Wired News – UFP Technologies Acquires Dielectrics
Stock Monitor: Bemis Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 06, 2018 / Active-Investors.com has just released a free research report on UFP Technologies, Inc. (NASDAQ: UFPT) ("UFP"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=UFPT as the Company's latest news hit the wire. On February 02, 2018, the Company announced that it has acquired Chicopee-based Dielectrics, Inc., a leader in the design, development, and manufacture of medical devices using thermoplastic materials. Dielectrics' revenues were approximately $43 million in 2017. The financial details of the transaction remained undisclosed. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Bemis Company, Inc. (NYSE: BMS), which also belongs to the Consumer Goods sector as the Company UFP Technologies. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, UFP Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Acquisition Expected to Enhance UFP's Manufacturing Capabilities and Add to its Earnings Right Away
R. Jeffrey Bailly, Chairman, Chief Executive Officer (CEO), and President of UFP, stated that Dielectrics is an outstanding strategic and cultural fit that will make UFP significantly more valuable to its growing medical customer base. Around 60% of Dielectrics' customers are also UFP's customers, as it provides complementary products and services. The Company sees many opportunities to create powerful synergies and address customer needs in a more comprehensive way. Bailly added that, in addition to its strong medical customer relationships, Dielectrics brings a superb management team and profitable book of business. UFP is committed to continue expanding its medical business, due to its excellent growth potential and high barriers to entry. The medical business is the largest market of the Company, and this acquisition is expected to enhance UFP's manufacturing capabilities and add to its earnings right away.
Both Companies Share a Value Proposition Based on Innovative Engineered Solutions
Commenting on the acquisition, Eric Stahl, Chairman and CEO of Dielectrics, stated that UFP is the ideal Company for Dielectrics to partner with. Both Companies have very similar cultures and philosophies, and share a value proposition based on innovative engineered solutions and the ability to solve customers' most challenging problems. Stahl added that he is confident that UFP's diverse capabilities, strong reputation, and national footprint will enable Dielectrics to become even more valuable to its customers.
UFP's Last Acquisition Deal
UFP performed its last acquisition in 2013. The Company acquired Packaging Alternatives Corp. ("PAC"), in January 2013. Founded in 1977 and located in Costa Mesa, California, PAC was a full-service designer, converter, and distributor of foam plastic products, specializing in technical polyurethane foams principally for the medical market. PAC's revenues were approximately $10 million in 2011. PAC brought a profitable book of business, very strong medical customer relationships, a complementary product line, and a solid management team to UFP. The acquisition improved UFP's coverage of the Western US, enhanced its manufacturing capabilities, and added to the Company's earnings.
About UFP Technologies, Inc.
Founded in 1963 and headquartered in Newburyport, Massachusetts, UFP is a producer of innovative custom-engineered components, products, and specialty packaging. Using foams, plastics, composites, and natural fiber materials, the Company designs and manufactures a vast range of solutions primarily for the medical, automotive, aerospace and defense, electronics, consumer, and industrial markets.
Stock Performance Snapshot
February 05, 2018 - At Monday's closing bell, UFP Technologies' stock fell 2.23%, ending the trading session at $28.50.
Volume traded for the day: 22.85 thousand shares, which was above the 3-month average volume of 18.89 thousand shares.
Stock performance in the last three-month – up 4.40%; previous six-month period – 1.60%; past twelve-month period – up 19.75%; and year-to-date - up 2.52%
After yesterday's close, UFP Technologies' market cap was at $207.20 million.
Price to Earnings (P/E) ratio was at 26.05.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry.
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