Plaskolite Inc. purchased the flat mirrored acrylic sheet segment of Replex Plastics of Mount Vernon, Ohio, in late October for an undisclosed sum.
``This continues our path to be the leader in the mirror industry,'' Mitchell Grindley, vice president of sales and marketing for Plaskolite, said in a telephone interview. ``It shows our commitment. We've acquired four companies in the last five years.''
Replex — which approached Plaskolite about being acquired — operated one plant and employed about 35. The equipment, consisting of vacuum metalizers, will be moved to Plaskolite's headquarters facility in Columbus, Ohio. Replex's other business segment — formed mirror parts for security applications — is not part of the deal.
The Replex acquisition gives Plaskolite's product line more colors, thicknesses and sheet sizes to offer its customers.
``In four short years we have become, and will continue to be, the leading supplier of quality mirror products in the market,'' Plaskolite President James Dunn said in a news release.
The company entered the mirrored sheet market with its 1994 purchase of Mir-Acryl Co. of Detroit. The firm claims to be the only mirrorized sheet manufacturer in the world to make its own resin and sheet. Plaskolite manufactures about 60 million pounds of acrylic each year and uses almost all of it in-house.
``There is a cost advantage and advantage in controlling the quality of the sheet,'' Grindley added.
Plaskolite's end markets include signage and displays, lighting, recreational, automotive, industrial, marine and consumer products.
The company employs about 300 and has been in business since 1950. Plaskolite reported sheet sales of $95 million for the year ended March 31, placing it at No. 52 in Plastics News' 1998 North American film and sheet manufacturers ranking.