Chief executive director Brian Nangle has led a management buyout of the Japanese-owned moulding business of Munekata Ireland Ltd (Jamestown Road, Finglas, Ireland – Dublin 11; www.munekata.ie). The deal has been carried out with backing from the Bank of Ireland and in partnership with Nangle´s colleague, Pat Coyne. The purchase price has not been disclosed.

Munekata Ireland´s 24-hour moulding operation specialises in the manufacture of large components, such as TV cabinets. It has 16 Toshiba injection moulding machines ranging in size from 280t clamp up to 1,300t. All are fully automated and equipped with take-out robots. Moulding techniques such as assisted gas injection, low pressure gas injection and gas counter pressure are used in conjunction with conventional compact injection. The MIL plant produces over 4m mouldings a year, many of which undergo further assembly and decorating processes. Operations include silk screening, tampo printing, staking and inserting. A continuous, closed loop, electrostatic, paint line has a capability for handling 1.4m units annually.

The moulding business, which employs 200 staff and will continue to have Japanese representation at board level, is being renamed Mouldpro International. However, it will continue to trade as MIL. It had started life in 1984 as Plastronics before becoming a subsidiary of Munekata in 1989. Turnover last year was GBP 15m.