Nifco Inc. bought out its two overseas partners in plastic parts ventures and turned them into subsidiaries this week.

Nifco, a leading maker of industrial plastic parts and components, said it bought 50 percent of ITW-Nifco, based in Ohio, and 48.5 percent of Snipgrove Ltd., based in Stockton-on-Tees, Britain, from its partner, Illinois Tool Works Inc. With the deals, Nifco now owns 100 percent of ITW-Nifco and 97 percent of Snipgrove. ITW-Nifco was established in 1986 and Snipgrove in 1990, both through the partnership with Illinois Tool Works.

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