UFP Technologies Sells Molded Fiber Business to CKF for USD 32m.
MANews-(C)2009-2022
US-based medical market components, subassemblies, products, and packaging supplier UFP Technologies, Inc (NASDAQ: UFPT) has sold its molded fiber business and related real estate in Iowa to CKF, Inc. for approximately USD 32m, the company said.
Founded in 1991, MFT was a pioneer in the development of "molded pulp" packaging using only water and recycled newspaper. UFP Technologies acquired MFT in 1993 and grew to become one of the largest producers of molded fiber packaging in North America.
UFP has long been the supplier for consumer brands. MFT's annual revenue was approximately USD 21.3m for the year ended December 31, 2021.
UFP Technologies is a designer and custom manufacturer...
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