Major plastics parts maker Nifco Inc. said Monday it has bought four companies of the Acriplas Group, a plastic parts group in Spain.
The four firms are Acriplas S.A., Prototips Tecnics S.L., Manipulates Industrials Egara S.L. and Acriplas Dos S.A.
Nifco, which has an overwhelming market share in plastic stoppers for use in automobile components, aims to strengthen its business in Europe by providing products to Japanese automakers operating in the region.
It was attracted to the companies because they maintain efficient production systems and direct business ties with auto-parts makers and car manufacturers in Europe.