Boltaron Acquires Empire Plastics

Boltaron Performance Products, LLC (Boltaron) announced that it acquired the operating assets of Empire Plastics, Inc. in a management buyout led by Lawrence J. Schorr, former CEO of Empire Plastics and Dean Li, Ph.D. former Vice President and General Manager of Empire Plastics. Boltaron sales are approximately $25,000,000 per year of rigid plastic sheet products for the graphic arts and thermoforming industries. The end use application for this sheet includes credit cards, identification cards, airplane interiors and orthotic products. The facility produces approximately 18 million pounds per year of plastic sheet, using calendar, extrusion and laminating press machines.

Lawrence J. Schorr, President and principal owner of Boltaron said, “We are very enthusiastic about this acquisition because it provides the operation with a fresh start. This fresh start is necessary in order to make the operation more competitive. Over the past two years, we experienced the sharpest increase in raw material pricing in the history of the company, resulting in dramatically lower profit margins. In order to invest more capital in the business, profit margins have to be restored and this acquisition will enable that to happen.”

Dr. Li, Vice President and General Manager of Boltaron, added: “Boltaron plans to make new investments in various types of equipment that will improve efficiency, capacity and quality over the next 12 months. We intend to be a very lean manufacturer, building on our reputation for quality, customer service and innovative product offerings.”

For more information, contact Harley Dakin, Boltaron Performance Products, LLC, One General Street, Newcomerstown, OH 43832, 740-498-5900, Fax: 740- 498-5448, Web: www.empireplastics.