Conwed Plastics has expanded its extruded plastic netting business by acquiring NSW LLC of Roanoke, Va., for undisclosed terms.
Minneapolis-based Conwed estimated the acquisition will boost its annual sales to about $100 million. It plans to keep NSW's Roanoke plant in operation and it will retain the firm's senior management team, including President and Chief Executive Officer Larry Ptaschek.
Conwed makes oriented square netting for industries such as agriculture, construction, packaging, medical and transportation. Key markets for NSW's diamond meshes include filtration, food packaging, automotive and industrial parts protection. In late 2003, NSW had bought the Vexar brand of mesh packaging from Conwed.
The acquisition will complement his firm's product line, Conwed President and Chief Executive Officer Mark Lewry said in a Feb. 10 news release. The company expects NSW's production capacity will help it grow into new markets.
Conwed said it will pursue other acquisitions of companies that make extruded or oriented plastics or that specialize in markets that fit strategically with Conwed's. The NSW deal is Conwed's second in less than a year. Last April it bought Atlantic Extrusion Co.'s assets and technology for producing oriented and square netting.
With 300 employees, Conwed also operates plants in Athens, Ga., and Belgium. It is a division of New York holding company Leucadia National Corp. NSW employs more than 90, according to a report in the Roanoke, Va., Times.