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Plaskolite Buys Lucite!

25 Jul

This is big news for acrylic distributor’s in North America. For those unfamiliar with the industry, it’s kind of like one major car manufacturer buying another… Lucite is a very recognized brand name much like Ford or GM. According to Wikipedia, Lucite was used for windows on the Bathyscaphe Trieste which descended to the lowest point on the ocean floor, the Challenger Deep.

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PRESS RELEASE 

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-25-2007/0004632412&EDATE=

MEMPHIS, Tenn. and COLUMBUS, Ohio, July 25 /PRNewswire/ — Lucite
International Inc, part of the Lucite International Group, and Plaskolite,
Inc have jointly announced the sale of Lucite International’s facilities in
Olive Branch, Mississippi and Monterrey, Mexico to Plaskolite, Inc.
“This transaction signifies a new phase in our long term relationship
with Plaskolite. We aim to create significant opportunities for
productivity improvements, which will enable us to address evolving market
conditions in North America and align the needs of our customers with the
company’s long- term objectives of efficient profitable growth,” said Ian
Lambert, CEO of Lucite International Inc.
“We are continually looking for strategic acquisitions in an effort to
develop and grow our business and we have always admired the quality work
conducted at the Olive Branch and Monterrey facilities. With these
additional locations, we can expand our operations and strengthen our
position in the production of extruded PMMA products,” said Jim Dunn,
President & CEO of Plaskolite, Inc.
Lucite International will continue to support Plaskolite as a supplier
of methacrylate materials as it continues to expand the acrylic market
through operating efficiencies and new product development. The management
teams of both companies expect the transaction to be completed by August 1,
2007.
About Lucite International
Lucite International is the world leader in methacrylate materials and
produces a range of high quality products comprising monomers, acrylic
sheet, polymers and resins, marketed under brand names including Lucite (R)
and Perspex (R). Customers convert these into a diverse range of consumer,
architectural, electronic and medical products.
In 2006 the Company had an annual turnover of circa US $1.5 billion and
employs a workforce of over 2000 people serving customers in over 100
countries worldwide.
Lucite International strives for World Class standards in the operation
of the business with emphasis in the areas Safety, Health and Environmental
performance. It is a leader in the industry in terms of scale, process and
product development.
About Plaskolite, Inc.
Founded in 1950, Plaskolite is a private company and leading
manufacturer of numerous types of acrylic, thermoplastic and mirrored sheet
products. The company’s sheet products include Optix(R) acrylic,
Duraplex(R) impact modified acrylic, roll stock acrylic, polystyrene and
Fabback mirrored sheet. Plaskolite also manufactures acrylic resin and
lighting panels.
Plaskolite’s manufacturing and distribution facilities located in
Columbus and Zanesville, Ohio serve the eastern United States, Canada, and
Central and South American markets, while the company’s Ontario, CA and
Compton, CA facilities serve the western United States and Pacific markets.
Plaskolite also supports a worldwide network of independent distributors.

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Posted by on July 25, 2007 in The Business

 

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