American Architectural Products Corp. has leapfrogged its way into a top 15 spot in the PVC window lineal market and is looking for more possible acquisitions.
AAPC of Boardman, Ohio, recently closed the purchase of the vinyl extrusion unit of Easco Inc. of nearby Girard, Ohio. AAPC renamed the unit VinylSource Inc.
The latest buy is part of a huge expansion effort AAPC has undertaken in the past several months.
AAPC in December raised $125 million from a private bond placement. Some of the proceeds went to refinance debt, but the majority went to finance the purchase of four other window and door fabrication companies: Binnings Building Products Inc. of Lexington, N.C.; Danvid Co. Inc. of Carrollton, Texas; Modern Window Corp. of Detroit; and American Glassmith Inc., a decorative glass company in Columbus, Ohio.
``The bond issue was for consolidation of debt and to provide some liquidity for future acquisitions,'' Larry Powell, AAPC vice president of sales and marketing, said in a telephone interview.
AAPC has some of that liquidity left for future purchases, he said.
``Our interest emphasizes our vinyl window platform as our next horizon,'' he said.
Easco gives AAPC its first in-house vinyl extrusion capabilities. AAPC also extrudes aluminum lineals. The former Easco unit will continue to sell custom vinyl profiles to other window makers.
Easco, which specializes in aluminum products, said vinyl extrusions netted $13.1 million in 1996 sales. That sum would have ranked it No. 15 in Plastics News' latest breakout of window lineal extruders, but the company did not submit information on its business in the past two years.
The former Easco plant employed 98 unionized workers.
With the recently accumulated businesses, AAPC projects 1998 sales of $225 million.