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MOUNT PLEASANT, Iowa--January 11, 2004-- A Mount Pleasant plastics producer purchased by a Native Alaskan-owned corporation sees fresh growth prospects in its new role as a minority supplier.

Nypro Iowa announced this week that Sealaksa Corp., the largest regional native corporation in Alaska, has acquired a 51 percent stake of the company from Nypro Inc., its Massachussetts-based parent company. Sealaska was formed under the Alaska Native Claims Settlement Act of 1971. Its assets came from a settlement relating to the aboriginal lands of Tlingit and Haida Indians of southeast Alaska.

Such native companies can qualify as minority suppliers under government procurement regulations.

Suppliers that do business with the federal government typically are required to meet a 5 percent diversity spending goal, according to Dan Butcher, general manager of Nypro Iowa in Mount Pleasant. They can meet that goal by purchasing from qualified minority suppliers, which are also in demand from U.S. manufacturers with voluntary minority supplier development programs.

Over the past few years, the new business Nypro was bringing in was just enough to offset the business it was losing to overseas producers with lower production costs, Butcher said.

With the ability to compete as a minority supplier, he is hopeful that Nypro will be able to expand its work force of 55 employees.

"It's a partnership very specifically described to generate more work for the company," said Al Cotton, a spokesman for Nypro Inc.

Sealaska's investment in Nypro Iowa follows by several years its purchase of a majority stake in TriQuest Guadalajara, Nypro's plastics plant in Guadalajara, Mexico. That partnership led the companies to look for other opportunities to work together.

The Mount Pleasant plant was chosen because of its high productivity and potential for growth, according to Jennifer Daly, executive vice president of the Mount Pleasant Area Development Commission.

Nypro makes engineered plastics components for automobiles, electronics, medical devices and consumer/industrial products. The employee-owned company has been in Mount Pleasant since 1989, but has not added much staff in five years, Butcher said, because of intense price competition from overseas producers.

The leading global provider of precision plastics injection molding and related manufacturing solutions with: - 9000 people at - 28 manufacturing locations, 5 dedicated mold building locations and two "stand alone" design centers in - 12 countries around the world, - who are "Best in Class" at meeting your precision molding and related manufacturing challenges.

The value of Sealaska's investment in Nypro was not disclosed. Nypro Iowa has no employees of Tlingit or Haida ancestry, but will try to inform Native Alaskans of future openings, and would give hiring preference to them "all other things being equal," Butcher said.

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