Ashland Chemical Co. is continuing a coast-to-coast buying spree for its FRP Supply Division, already the largest North American supplier of resins, reinforcements and other products for fiber-reinforced plastics.
Ashland of Dublin, Ohio, said Dec. 17 it had acquired Plastics Maritime Ltd. of Halifax, Nova Scotia. Terms were not disclosed.
``This marks FRP Supply's first entry into the Maritime Provinces and finishes our sales coverage throughout all of Canada,'' William C. Mertz, vice president and general manager of FRP Supply, said in a news release. He described Plastics Maritime as the leading distributor in the Maritime Provinces.
FRP Supply will take over Plastics Maritime's stocking locations in Halifax and St. John's, Newfoundland, bringing the Ashland division's total sites to more than 55 in North America.
The majority of Plastics Maritime's employees also will join Ashland in the transaction, said Ashland spokesman Jim Vitak. Their number was not released.
``Following this acquisition our FRP Supply Division will have a total of 10,000 customers,'' Vitak said, adding that FRP's Canadian sales coverage is expanding 20 percent and into four additional provinces with the deal.
Plastics Maritime is the fourth FRP supplier Ashland has bought in about a year. Other recent acquisitions include General Fiberglass of Pewaukee, Wis.; Polyester Chemicals Corp. of Pacoima, Calif.; and the western Canadian composites distribution business of Ferro Industrial Products Ltd.