GI Plastek, Precision Southeast Inc., and Plastics Solutions, Inc. Announce They Are Now PSI Molded Plastics

Merger provides solutions for widest range of injection molding needs.

GI Plastek, Precision Southeast Inc., and Plastics Solutions, Inc. proudly announce they are now PSI Molded Plastics. The three sister injection molding companies are all owned by Gladstone Investment (NASDAQ: GAIN). Citizens Bank assisted with the financing of the merger. With the merger, each of the companies can now share their distinct areas of expertise throughout the organization. The merger expands the company’s presence into a variety of markets, including automotive, healthcare and diagnostic, appliance, and material handling, as well as filtration, sports and leisure, industrial, and lawn and garden.

The new organization provides customers with a single company that can support a customer’s injection molded component requirements – from large parts to small and from low to high volumes. Also available are post mold finishing, paint and decorating, and assembly capabilities, as well as automotive certifications. Offering access to multiple injection molding processes, PSI Molded Plastics’ capabilities include gas assist, structural foam, and overmolding, along with in-house tooling.

PSI Molded Plastics’ manufacturing facilities are located in Wolfeboro, New Hampshire, South Bend, Indiana, and Myrtle Beach and Marion, South Carolina.

“We are very excited about this opportunity to bring together these companies and the talented people within them to provide our customers with an in-depth solution to their injection molded plastics needs,” said Daniel Mills, President and CEO of PSI Molded Plastics. “We appreciate Gladstone’s support in this merger and its continued investment in our growth.”

PSI East (Wolfeboro, NH) Receives Excellence in Quality Award

GI Plastek, the previous name of PSI East and one of Wolfeboro’s largest employers has received the 2016 Excellence in Quality Award from customer Raymond Corporation, a division of Toyota. Raymond is the leading global provider of lift truck, forklift and material handling solutions that improve warehouse management and forklift fleet productivity.

The Excellence in Quality Award is given to suppliers who make significant contribution to support the quality process at Raymond.

Daniel Mills, President and CEO of GI Plastek congratulated the entire GI Plastek team and stated, "I am very pleased to announce that I was asked to accept the 2016 Excellence in Quality Award for GI Plastek Wolfeboro's efforts in supporting our key customer Raymond. This is an amazing honor and all of you should be proud of your efforts."

GI Plastek specializes in large to medium, high aesthetic complex molded products that provide added value in a one-stop-shop environment. Core capabilities include standard injection molding, structural foam molding, gas assist and gas counter pressure molding, finishing, painting, EMI shielding, assembly, and graphics.

In 2014, a $3+ million plant expansion added over 30,000 square feet of manufacturing and office space and positioned the business for future growth. We are now investing over $2+ million to add two large tonnage injection molding machines to increase our molding output and are replacing our current paint line with a larger capacity, enhanced capability system.

GI Plastek employs over 130 people at the manufacturing facility on Wickers Drive in Wolfeboro.

If you would like more information about this topic, please contact Rick Collopy at 603.941.0014 or email at

Call us today at 603.569.5100 for assistance on your molding and finishing requirements.