MOSCOW (MRC) -- Plaskolite has agreed to acquire nearly all assets of Plazit-Polygal, an Israel-based international producer of engineering thermoplastic sheets,said the company.
Plaskolite will acquire Plazit-Polygal's operations and assets in North America, South America and Europe - with the exception of operations in Russia. On closing of the transaction in December, Plazit-Polygal’s headquarters in Kibbutz Gazit will serve as Plaskolite’s regional headquarters for Europe, Middle East, Africa (EMEA).
“This transformative acquisition will significantly expand Plaskolite’s global reach and strengthen the high-quality offering we provide our customers,” said Ryan Schroeder, Plaskolite’s president and CEO. Plaskolite, of Columbus, Ohio, is described as North America’s largest manufacturer of engineering thermoplastic sheet and profile products. Financial terms were not disclosed.
As per MRC, Plaskolite, LLC, North America’s largest manufacturer of acrylic sheet products, has announced that it is acquiring the North American polycarbonate sheet manufacturing business of Covestro, a global leader in high-tech polymer materials. The acquisition transforms the North American sheet industry by combining the leader in acrylic manufacturing and the leader in polycarbonate manufacturing.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,638,370 tonnes in the first eight months of 2021, up by 10% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 989,570 tonnes in the first eight months of 2021, up by 30% year on year. Deliveries of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas shipments of injection moulding PP random copolymers decreased significantly.
Plazit-Polygal is a world leader in the design, development and manufacturing of engineering thermoplastic sheets and profiles. Its products are used worldwide in a broad range of markets and applications.
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the leading North American manufacturer of engineering thermoplastic products. Plaskolite is owned by Pritzker Private Capital along with the Dunn family, management and other co-investors.