PLASKOLITE ACQUIRES CONTINUOUS CAST ACRYLIC SHEET BUSINESS OF LUCITE INTERNATIONAL, INC.
Leading manufacturer of thermoplastic sheet adds to its product portfolio and enters new markets
COLUMBUS, Ohio (February 12, 2018)– Plaskolite, LLC, North America’s largest manufacturer of acrylic sheet products, announced today that it is acquiring Lucite International, Inc.’s (Lucite) continuous cast acrylic sheet business, which includes general-purpose sheet and sanitary ware spa and bath sheet.
As a part of the transaction, Plaskolite is acquiring Lucite’s 93,375 square foot sheet manufacturing facility in Memphis, Tennessee. The closing is expected to be completed by the end of the first quarter of 2018. Terms of the transaction have not been disclosed.
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC. is the largest privately-owned North American manufacturer of acrylic sheet products. Plaskolite’s customized products are used in a wide variety of applications including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers.
Plaskolite and Lucite have had a significant ongoing relationship for 40 years, with Plaskolite being the largest North American purchaser of acrylic monomers from Lucite, a part of Mitsubishi Chemical Corporation.
“Our goal is to be the industry leader while strengthening our marketplace position for the benefit of our customers,” said Mitchell Grindley, Plaskolite’s President and CEO. “With this acquisition we have taken another step forward in our leadership position while building on our long-term commitment to our American workforce and facilities.”
With this acquisition, Plaskolite will employ 800 people in Columbus, Ohio; Zanesville, Ohio; Grand Saline, Texas; Compton, California; Olive Branch, Mississippi; Monterrey, Mexico and Memphis, Tennessee.
*More details to come in the next issue of SpaRetailer