Masternet Ltd. has broadened its market coverage and technologies by acquiring the Vexar business formerly owned by DuPont Canada Inc. of Mississauga.
Masternet, also of Mississauga, finalized the purchase Dec. 23 for undisclosed terms. Vexar's annual sales are less than C$10 million, estimated Ash Sahi, president and chief executive officer of Liqui-Box Canada, the DuPont Canada subsidiary that ran the Vexar business.
Vexar launches Masternet into construction fencing, said Linda Duval, vice president of the family-owned company. Vexar also introduces new technologies to Masternet, she said in a telephone interview. Masternet, established in 1988, has focused on protective netting.
Masternet will move Vexar equipment into its Mississauga facility in the first quarter of 2004. Equipment includes a fencing extrusion line larger than any of Masternet's other production lines.
Sahi said Vexar was a small part of Liqui-Box, which now can focus on packaging films and liquid packaging systems. Vexar originally was an offshoot of DuPont Canada's Sclair polyethylene films business as a way of converting reclaimed film into tough netting products. Sahi said Vexar lately relied more on virgin polymer feedstocks.