U.S. cap and closure maker acquires plant in Shanghai

New York-based Caplugs LLC is starting a manufacturing operation of plastic plugs and caps in Shanghai. The company made the expansion by acquiring the assets of an existing injection molder. The 5,600-square-meter Shanghai facility employs about 170 and houses 37 injection presses with clamping forces ranging from 60 to 400 metric tons. "It was always our intent to manufacture and supply products from China," Chief Executive Officer Tony Herbert said. The acquisition route also helps to bypass obstacles potentially caused by cultural difference, Herbert added. Last month, Caplugs completed the assets acquisition except real estate of Shanghai Jin Ding Plastics Co. Ltd., which is now the landlord of the facility. www.caplugs.comNike Jordan Melo Shoes