Titus Acquires Precision Plastics, Columbia City, IN
Titus is buying the assets of Precision Plastics located in Columbia City and starting a new company. Titus is a global company with more than 21 global locations, Columbia City is their only U.S. location. Titus supplies components to nearby IKEA and Sauder Furniture in Ohio.
On January 11, Ron Richey, former Precision Plastics president, and Matthew Hurley, Titus Precision CEO, detailed the plans for the new company at the Columbia City Common Council meeting.
Dale Buuck, Whitley EDC president, made a formal request for a tax phase-in for Titus. The Columbia City Common Council approved a tax abatement on the new equipment being purchased and installed. Over the next two years, Titus will invest nearly $7M in the facility.
Provided News Release:
Titus Group, the world’s leader in supplying high-volume cabinet hardware componentry, announces the acquisition of Precision Plastics in Columbia City, Indiana.
Precision Plastics brings over 60 years of manufacturing experience and a long history supplying the automotive sector. The combination will enhance Titus’ capabilities by providing added capacity to meet their current customers’ needs.
Titus Group North America CEO Matthew Hurley says: “We have looked at opportunities to onshore more of our manufacturing in the United States for quite some time. We look forward to welcoming Precision Plastics’ team and supporting them with investment in current and new programs. The introduction of Titus Group’s proprietary zinc metal and automation capabilities will now enable us to develop a wider range of customer specific solutions locally.”
In 2021 Titus Group provided over three billion connectors, and functional hardware components to the worldwide furniture, kitchen and appliance industries. Titus is a leader in OEM supply of damping engineering.
Titus Group Chairman, Robert Appleby says: “Titus is no stranger to US manufacturing. In the 1980’s Titus established itself on the West Coast as a connector manufacturer for the RTA furniture industry. The addition of Precision Plastic’s experienced plastic engineering team to the Titus Group’s current US logistics center and customer support staff which have been established in the Midwest for many years enables us to introduce new products from new processes and enhance our delivery capabilities to all our North American customers.”
To discuss how our new Titus operations can improve competitiveness for your business live and in person, schedule a dedicated appointment with one of our experts at KBIS 2022 through our website at www.titusplus.com or send us an email at firstname.lastname@example.org.
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About Titus Group
The UK owned Titus Group develops, manufactures and markets innovative precision component solutions that improve competitiveness of its customers in various industries. Through innovative product design, high-volume manufacturing expertise and efficient service it enables business partners to improve their productivity and quality as well as reduce costs of assembly, manufacturing and other processes. The majority of the Company’s turnover comes from its core activity, the production of furniture connectors, concealed hinges and furniture damping. The precision engineering competence gained in the field of furniture hardware has been applied to other areas: multi-purpose damping technology, automated assembly systems, tooling, precision die casting service and ultrasound fastening technology in various industries such as furniture, home appliances, automotive, medical devices and hardware. For more information and photos, please visit www.titusplus.com
About Whitley County Economic Development Corporation
The Whitley County Economic Development Corporation (EDC) is the lead economic development agency in Whitley County, Indiana. The Whitley EDC works closely with local, regional, and state partners to support our industry clients’ growth and success. Our mission is to lead a comprehensive economic development strategy that builds and retains wealth, expands opportunities and attracts capital investment to Whitley County. The Whitley EDC was established in 1992 and represents Whitley County, Columbia City, and the towns of Churubusco, Larwill and South Whitley. For more information about the Whitley EDC visit whitleyedc.com.