Today an announcement came that brings an international company to America and to Mansfield.
Jay Plastics, which engages in high value surface engineering of polymer components, began operations in 1968. It has to date operated as a division of Jay Industries, a 100 year old Mansfield company. Its 400 employees manufacture products for the automotive industry as well as for other sectors, including household appliances.
The buyer, Gottelborn, Germany-based Nanogate AG, is anticipating that its initial foray into international operations will lead to an immediate increase in sales and expanded markets.
It is anticipated that the transaction will be competed in the next few months. Nanogate has indicated that it expects job growth at Jay Plastics.
Ralf Zastrau, Chief Executive Officer of Nanogate AG, commented: “Jay Plastics is a classic American success story… We therefore remain committed to the existing site in Mansfield and to the employees there as well as the management. With the transaction, Nanogate is growing in a new dimension: We are expanding our market access, creating our own production capacities in North America and strengthening our technology portfolio.”
Rick Taylor, President and CEO of Jay Plastics, commented: “Nanogate is the ideal partner for Jay Plastics’ further development. The Group is a leader in technology and quality. Nanogate enables us to offer our customers new and innovative technologies. Our existing site, which should now be further developed together, will also benefit from this. In addition, Nanogate has excellent relationships with top German automotive manufacturers. Together, we are a strong pair for innovative surfaces and plastic components on both sides of the Atlantic.”