- UFP Technologies ( NASDAQ: UFPT ) said on Wednesday it was selling its molded fiber business and related real estate in Iowa to CKF for about $32M.
- "This strategic divestiture frees up resources – both people and capital – to further grow our MedTech ( OTC:MHMNF ) business, which now represents 82% of our revenue," said Jeffrey Bailly, CEO of UFP Technologies.
- Molded Fiber Technology’s annual revenue was about $21.3M in 2021.
- CKF is a Canadian-owned manufacturer that offers a wide range of molded pulp, foam, and PET products to meet the specific demands of retail consumers, food service operators and the packaging industry.
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UFP technologies sells molded fiber business to CKF for $32M