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Plaskolite to acquire assets of thermoplastic sheet manufacturer Plazit-Polygal

Plaskolite to acquire assets of thermoplastic sheet manufacturer Plazit-Polygal

News 22.10.2021

Plaskolite LLC (“Plaskolite”), North America’s manufacturer of engineering thermoplastic sheet and profile products, today announced that it has signed a definitive agreement to acquire substantially all of the assets of Plazit-Polygal, an international pioneer in the design, development and manufacturing of engineering thermoplastic sheets. Plaskolite will acquire Plazit-Polygal's operations and assets in North America, South America and Europe, with the exception of Plazit-Polygal's Russian operations. Upon close of the transaction, Plazit-Polygal’s Israel headquarters will serve as Plaskolite’s EMEA headquarters.

Headquartered in Kibbutz Gazit, Israel, Plazit-Polygal manufactures an extensive and highly customized offering of engineering thermoplastic products, including acrylic and polycarbonate solid sheets as well as multi-wall and corrugated sheets. With this acquisition, Plaskolite will expand its geographic footprint in North America, Europe and South America. Plaskolite will broaden its offering with new multi-wall sheet production capabilities, and the Company’s added scale and international reach will enhance its ability to serve a growing customer base.

“This transformative acquisition will significantly expand Plaskolite’s global reach and strengthen the high-quality offering we provide our customers,” said Ryan Schroeder, Plaskolite President and CEO. “For more than 70 years, Plaskolite has led our industry focused on customer service, product quality and innovation. The addition of Plazit-Polygal’s talented team and dynamic production capabilities will help us extend our leadership position as we serve a growing base of customers. I am delighted to welcome Amir and everyone at Plazit-Polygal to the Plaskolite family.”

The transaction is subject to regulatory approval and customary closing conditions and is expected to close in December 2021.

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