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, Europe, Mexico, United States, Thermoforming

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

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

German plastics firms weigh options for Brazil

November 25, 2014 6:00 am ET

Brazil, the largest market in South America, has been a lure for foreign investors for many years, and in the past decade, it has enjoyed good...    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank...    More

Image

Canada's Papp Plastics is eyeing big opportunities with JV in Mexico

November 24, 2014 4:11 pm ET

Canadian injection molder and turnkey solution provider Papp Plastics & Distributing Ltd. will open an $11 million to $12 million joint venture...    More

Image

AMA Plastics adds presses, changes management structure

November 24, 2014 3:57 pm ET

AMA Plastics Inc. has strengthened its management structure, received recognition for entrepreneurship, achieved quality improvements and added three ...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

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 Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events