Founded in 1991, Precision Extrusion provides a wide range of advanced extrusion technologies and products, ranging from single lumen, multilumen and co-extrusion tubing to acetal mandrel solid rods and wire-reinforced products.

The company is mainly involved in processing high-performance medical plastics materials, including nylon and nylon co-polymers, polyurethane, PEEK, polyetherimide, FEP, and polycarbonate.

In addition, the firm markets angiographic and guide catheter solutions in standard French sizes.

Pexco CEO Neil Shillingford said: "The acquisition represents yet another step begun in 2012 in the direction of full plastics solutions for our customers in our core markets, with medical certainly a priority.

"Precision Extrusion provides engineered solutions to its customers in the medical industry and deepens Pexco’s ability to offer advanced tubing extrusion solutions to all our strategic customers."

Precision Extrusion’s Mike Badera will join Pexco, and continue to serve as president and general manager for the acquired business.

Badera said: "Pexco’s scale, resources, and diverse technical capabilities offer our business the opportunity to fulfill its objectives and long-term goals of providing more high quality services to our customers by working together with a great partner."

In 2013, Pexco acquired Minnesota-based Spectrum Plastics, which provides base in injection and micromolding solutions for surgical device products and surgical implantables, including bioresorbable materials.