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September 21, 2020 10:09 AM

New Plaskolite CEO sees strong sheet demand in 2020

Frank Esposito
Plastics News Staff
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    Schroeder

    Ryan Schroeder hit the ground running as president and CEO of plastic sheet leader Plaskolite LLC.

    As a result of the COVID-19 pandemic, clear sheet made by Plaskolite was in high demand for face shields and protective barriers. Columbus, Ohio-based Plaskolite makes sheet from acrylic and other resins at multiple sites. Schroeder's first day on the job was May 4.

    "When I came in, sheet orders were at historic levels," Schroeder said in a recent phone interview with Plastics News. "It was a strange way to start, but it was a pleasure getting to know the company. There's a real welcoming spirit and a great culture here."

    After being named an essential business, Plaskolite was required to make sure work environments were safe at its production sites. The firm also had to "ramp up" its supply chain and move production schedules from five days a week to seven and make other changes to its work shifts, Schroeder said.

    Earlier this year, all 10 of Plaskolite's plants were making thin plastic sheet used in medical face shields. Production of glycol-modified PET sheet at those plants was enough to make 3 million shields per week. A couple of the firm's plants still are making that type of sheet.

    Plaskolite also has been making increased amounts of polycarbonate and acrylic sheet used as protective barriers at retail checkouts, banks and other environments. On the safety front, the firm has kept any employees not essential to production working remotely to limit exposure to production workers. Plaskolite's plants also are being disinfected regularly.

    Recently, sheet demand has slowed down a bit but still remains relatively high, Schroeder said. Plaskolite still has a backlog of orders for some products, he added.

    The firm also has seen growth in sheet used in lighting and bath and spa applications, as people invest more in their homes. On the downside, Plaskolite lost some business when some customers were labeled nonessential and temporarily closed during the pandemic.

    Increased demand led Plaskolite to add a new sheet line in Columbus earlier this year. The firm plans to add an additional line in Olive Branch, Miss., by the end of the year.

    Schroeder joined Plaskolite from IMI Precision Engineering, an industrial firm based in Littleton, Colo. While at IMI, Schroeder spent four years as president of the Americas leading approximately 2,200 employees across 17 facilities. Prior to IMI, Schroeder spent 12 years with industrial firm Parker Hannifin in a variety of roles, including global valves general managers.

    Grindley

    When Schroeder started at Plaskolite, longtime company leader Mitch Grindley became the firm's executive chairman. Grindley said in a recent phone interview that in his new role he'll focus on strategy and acquisitions. He also had praise for Schroeder.

    "We were looking for a guy with global experience on the commercial end," Grindley said. "Culture was our No. 1 criteria, and Ryan fit that bill. We made the right choice."

    Acquisition work should keep Grindley busy. Plaskolite has made 17 acquisitions in the last 13 years and has been majority owned by investment firm Pritzker Private Capital since 2018.

    "Our strategy is simple, and we're a patient acquirer," said Grindley, a 37-year Plaskolite veteran who became CEO in 2015. "We're starting to look at other materials and at expanding our global footprint. It's an exciting time."

    Pandemic-related travel restrictions have made the logistics of doing deals more challenging, but Grindley said Plaskolite "can do the legwork first" on potential deals. "We can still dig a ditch," he added.

    Plaskolite's most recent deal came in December 2018 — less than a month after the firm was acquired by Pritzker — when it bought the extruded lighting sheet and profile lens business of ALP Lighting Components Inc. for an undisclosed price. That purchase was Plaskolite's fourth of 2018. It included the acrylic sheet, PET and polycarbonate lighting sheet product lines of Niles, Ill.-based ALP, as well as extruded profile lenses.

    Plaskolite was founded in 1950 by Donald Dunn and his family. Other products made by Plaskolite include sheet made for such products as fighter jet canopies, signage and vending machine fronts. The firm serves a diverse customer base including distributors, OEMs and retailers.

    Based on sales, Plaskolite is North America's 15th-largest film and sheet maker in Plastics News' 2020 ranking, with all of its sales from sheet. The firm has annual sales of $584 million.

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