Plaskolite announced that it is acquiring the North American polycarbonate sheet manufacturing business of Covestro. The acquisition transforms the North American sheet industry by combining the leader in acrylic manufacturing and the leader in polycarbonate manufacturing.
As a part of the transaction, Plaskolite is acquiring sheet headquarters, production sites and warehouse facilities in Sheffield, Massachusetts and will maintain the existing third-party distribution warehouse facility in Hebron, Ohio. With this acquisition, Plaskolite will employ 950 people.
The closing is expected to be completed August 1, 2018.
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the largest North American manufacturer of see-through thermoplastic sheet products. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base, including distributors, OEMs and retailers.
“This acquisition is transformational for Plaskolite and strengthens our industry leadership position,” said Mitchell Grindley, Plaskolite’s President and CEO. “It broadens our offering and further strengthens our partnerships. Plaskolite will be the only manufacturer ever to offer a complete clear sheet product portfolio, including Acrylic, Polycarbonate, PETG and ABS, which is a benefit to customers who can now turn to one source for all their sheet needs.”
This will be the second business that Plaskolite has acquired from Covestro. In 2012, Plaskolite purchased its North American Vivak ® line of PETG sheet.