Contract electronics company Jabil Circuit has .
Jabil chairman and CEO Timothy Main said the combination is set to extend the company's materials manufacturing capabilities into the healthcare and consumer packaging markets besides adding depth to its consumer electronics business.
"We think this is an important strategic step in Jabil's development of engineering and capability intensive businesses," Main said.
The acquisition is also expected to open a new market in packaging for customers in the food and beverage, household and personal care industries.
According to Jabil, the rigid plastic packaging market is a $140bn addressable market globally and the company plans to pursue this market on a global basis.
Completion of the transaction is expected to take place during Jabil's fiscal third quarter.
Nypro, which has over $1bn in total annual revenues, has manufacturing operations in ten countries.
