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

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

P&G removing PE microbeads from its Crest brand toothpaste

September 18, 2014 1:57 pm ET

After months of prodding, Procter & Gamble Co., the makers of Crest brand toothpastes, say polyethlene microbeads will be completely removed from its ...    More

Image

Bill Kent named Thermoformer of the Year

September 18, 2014 12:11 pm ET

Bill Kent flew 6 million miles in a 50-year career at Brown Machine LLC — where he began assembling thermoforming machinery on the factory...    More

Image

Nolato Contour beefs up white room molding capabilities

September 18, 2014 11:56 am ET

Nolato Medical has extended its controlled environment options to include a white room at its Baldwin, Wis., Nolato Contour plant.    More

Image

PET to PET boosts recycling capacity

September 18, 2014 11:14 am ET

PET to PET Recycling Austria GmbH, a bottle-to-bottle PET recycling operation backed by Coca-Cola Hellenic Bottling and several beverage manufacturers...    More

Market Reports

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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

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

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

More Events