SPARTECH TO PURCHASE UNIROYAL TECHNOLOGY'S HIGH PERFORMANCE PLASTICS GROUP
Spartech Corporation announced that it has entered into an agreement to acquire substantially all of the assets of High Performance Plastics, Inc. ("HPP") a wholly-owned subsidiary of Uniroyal Technology Corporation and a well-established manufacturer of proprietary plastic products based in South Bend,Indiana.
Spartech's Chairman, President and CEO, Bradley B. Buechler, stated, "We are enthusiastic about the prospect of adding the strength and diversity of HPP's businesses...through its two operating divisions -- Polycast (cell cast acrylic) and Royalite (extruded thermoplastic sheet) -- will significantly expand Spartech's product offerings to customers, increase production capacity through nine additional manufacturing plants located throughout North America, and broaden our technical and marketing expertise in serving several new growth industries for Spartech...currently over 75% of HPP's sales are derived from products or markets in which Spartech has not previously competed.
Spartech ($43.1 million or $1.48 per diluted share) is a leading producer of engineered thermoplastic materials, polymeric compounds, and molded & profile products, with current annual production capacity of more than 1.5 billion pounds from its 43 manufacturing facilities.
For more information, contact Randy C. Martin, Spartech Corporation, 120 S. Central, Suite 1700, Clayton, MO 63105-1705, 314-721-4242.
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