Plaskolite buys Italian mirror sheet business, eyes European expansion

By Steve Toloken
Staff Reporter / Asia Bureau Chief

Published: August 7, 2014 4:02 pm ET
Updated: August 7, 2014 4:05 pm ET

Image By: Specchidea srl Specchidea srl's mirror sheets in use at a concert event.

Related to this story

Topics Mergers & Acquisitions, Thermoforming, United States, Mexico, Europe

Acrylic sheet producer Plaskolite Inc., the largest maker of mirror sheet in the United States, said August 4 that it’s buying the mirror sheet business of Italian competitor Specchidea srl as part of a focus on expanding into Europe.

The company is purchasing both the production equipment and product line from Turin-based Specchidea, and will either move the equipment to a new facility it is building in Turkey or back to the United States, said Mitchell Grindley, vice president of sales at Columbus, Ohio-based Plaskolite.

Specchidea was the largest supplier of mirror sheet in Europe, he said.

“We are definitely strengthening our position in Europe,” Grindley said. “We are doing the cast products in Turkey and have a major share of the mirror business. Europe is a strong focus for us.”

Terms of the acquisition were not disclosed. Plaskolite previously supplied Europe from its North American factories.

Plaskolite, which employs more than 475, has five factories in the United States and one in Mexico, along with its new cast acrylic sheet factory in Malatya, Turkey, a joint venture with local thermoformer and extruder Işik Plastik.

Plaskolite claims to be the largest privately owned maker of continually processed acrylic sheet products in the United States, and has been expanding via acquisitions in recent years.

In 2012, it bought the glycol-modified PET sheet business of Bayer MaterialScience LLC and the sheet-related assets of Pexco LLC.


Comments

Plaskolite buys Italian mirror sheet business, eyes European expansion

By Steve Toloken
Staff Reporter / Asia Bureau Chief

Published: August 7, 2014 4:02 pm ET
Updated: August 7, 2014 4:05 pm ET

Post Your Comments


Back to story


More stories

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

Report: SVP takes Klöckner Pentaplast off the market

October 21, 2014 4:19 pm ET

Plastic sheet leader Klöckner Pentaplast Group is no longer for sale, according to an Oct. 21 Reuters article.    More

Image

Wisconsin cast film maker buys Ohio blown film specialist

October 21, 2014 2:57 pm ET

A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.    More

Image

Omega buys Vinylex, adds capacity, locations

October 21, 2014 1:48 pm ET

Profile extruder Omega Plastics LLC has expanded its stake in the market by acquiring Vinylex Corp.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events