UniPunch Products Inc. acquired the unitized C-frame tooling product line of Strippit Inc. in Akron for an undisclosed sum, the Buffalo punching tools and die manufacturer said Thursday.
The deal will not lead to any new employees at UniPunch's plant at 370 Babcock St., which now has more than 100 workers, and it is not expected to lead to any job losses at Strippit, said Stephen J. Kocsis, a UniPunch spokesman.
"This is strictly the transfer of products and knowledge. There are no people involved," Kocsis said. The deal allows UniPunch to add new customers for its unitized C-frame tooling business, which makes self-contained hole punching units that are used to make holes in metal and plastic products.
The acquisition will add about $3 million to UniPunch's current annual sales of about $10 million, Kocsis said.
Strippit, which employs about 400 people at its Akron plant, will concentrate on its core business making turret punch presses and other tools for the metal fabricating industry.
Strippit was acquired last summer by a Belgian company, LVD Company NV.