Acrylic sheet extruder Plaskolite Inc. of Columbus, Ohio, acquired the American Mirror Division of American Louver Co. of Chicago for an undisclosed amount May 15.
Mitchell Grindley, Plaskolite's vice president of sales and marketing, said the company bought the division to advance its mirrorized sheet market.
The purchase is the third in four years for Plaskolite, which had 1997 sales of $94 million. In 1994 it entered the mirrorized sheet market by acquiring Mir-Acryl Co. of Belleville, Mich., a maker of mirror substrates. Last year the company bought the cast acrylic products division of Ram Products Co. of Sturgis, Mich. According to Grindley, Plaskolite is the only mirrorized sheet maker in the world currently producing its own acrylic resin.
American Louver manufactures lighting products and is working on a new UltraLux protective coating for metalized plastic louvers. The purchase was a smart move for Plaskolite, said Grindley, because American Mirror has an excellent reputation for producing mirrorized sheet.
``This will also help us to gain even more technology,'' he said in a May 18 telephone interview.
``I think with this purchase we are sending the message to our distributors that we are very serious about staying the leader in the manufacturing of mirrorized sheet,'' said James Dunn, Plaskolite president and chief executive officer.
American Louver President Chuck Hampton said the deal will benefit both firms.
``Plaskolite is about 10 times larger than us and it is the leader right now when it comes to manufacturing sheet,'' he said. ``Our mirror division is very small and we would like to focus more on our lighting products business.''
About 150 American Mirror employees won't have to worry about looking elsewhere for a job, Hampton added.
``We froze all positions for employment when we found out the purchase was final. All of our employees will continue their work with the mirrorized sheet manufacturing — but now it will be for Plaskolite,'' he said.