A Kent, Ohio, company has bought a U.S. plastic floral accessories business from Spotless Group Ltd. of Australia. Smithers-Oasis U.S.A. bought the assets of Lomey Manufacturing Corp. of Asheville, N.C., for A$9.4 million (US$6.9 million).
Lomey injection molds containers for flower arrangements. The sale included the Lomey business name and molds for its patented product line, including bouquet holders and bridal accessories, according to John Bongiorno, executive director of Spotless' plastics division.
Smithers-Oasis U.S.A. will add Lomey's products to its own offerings, which are sold wholesale to florists. Lomey is a longtime customer of Smithers-Oasis, which makes Oasis- and Sahara-brand phenolic floral foams at its Kent and Dayton, Nev., plants, according to a Smithers-Oasis news release. The company also makes foams for greenhouse growers and biomedical applications.
The sale did not include equipment, said Kay Kwenski Toomey, Lomey's marketing manager. Smithers-Oasis may farm out injection molding of the Lomey products, she said.
Lomey, bought by Spotless in 1989, recorded sales of US$6 million for the 1995 financial year, but was no longer considered part of the group's core North American business of plastic coat hanger manufacturing, Bongiorno said.
The sale did not include the Asheville plant, which will continue to house Spotless' plastic clothes hangers businesses, Plaza Plastics Corp. and Plastisform Enterprises Inc. Plaza and Plastiform also injection mold hangers at a plant in Deer Park, N.Y.
Borgiorno said Plaza, acquired by Melbourne-based Spotless in 1993, and Plastiform achieved combined sales of US$54 millionthis year.
Spotless operates plastic, cleaning and catering businesses, predominately in Australia and New Zealand. It recorded group sales of A$615 million (US$457.4 million) and an after-tax profit of A$12 million (US$8.9 million) for fiscal 1995.
Smithers-Oasis' business supplies floral industry products worldwide, including through its Elizabeth, Australia, subsidiary, Smithers-Oasis Pty. Ltd. The Ohio firm would not disclose sales.
Staff reporter Lisa Sarkis Neaville contributed to this story.