Plaskolite buys Italian mirror sheet business, eyes European expansion

By Steve Toloken
News Editor / International

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 Europe Mexico United States Thermoforming
Companies & Associations

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
News Editor / International

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

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Danish packaging firm Faerch buys UK's Anson as part of growth strategy

April 24, 2015 9:37 am ET

Denmark-based packaging company Faerch Plast A/S has acquired Ely, United Kingdom-based Anson Packaging Ltd., a move the company says “should...    More

Image

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at...    More

Image

Madison buys Ferry Industries

April 16, 2015 5:22 pm ET

Ferry Industries, the largest manufacturer of rotational molding machinery, was purchased by Madison Industries, a Chicago holding company that is the...    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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

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

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events