James Hardie Buys Teel Pultrusion Business
A supplier of fiberglass components to the window and door industry, Teel Plastics Inc. is selling its pultrusion division to Razor Composites LLC, a new business unit of James Hardie Industries, the international manufacturer of fiber-cement siding. The acquired assets will be part of a potential new business development platform in non-fiber cement building materials in the U.S.A, James Hardie officials state.
The Australia-based company, with annual sales of approximately $1.25 billion, says it will provide further details on the acquisition when it reports its results for the year ending March 31, 2012. Financial details of the transaction were not disclosed
“Razor Composites will proudly continue the tradition of high-quality fiberglass pultrusions established by Teel Plastics,” says Erik Booth, director of business development. “James Hardie believes that a world class pultrusion manufacturer will provide an additional platform to achieve its vision in the building materials industry.”
The manufacturer describes Teel as "the only pultruder with a proven track record of success both in achieving consistent high quality complex profiles and in extremely efficient production of commodity shapes, enabling the pultrusion business to compete with overseas producers." According to the Teel website, the company's pultrusion business specializes in complex door thresholds and sills for windows, doors and skylights, offering a variety of in-house finishing capabilities as well.
Razor Composites plans to grow the Baraboo, Wis.-based business, leveraging the knowledge and commitment to excellence of its employees to expand into new markets for pultruded products, officials state. Continuing on the path set by Teel Plastics to invest in the development of its employees, manufacturing excellence and technology. Razor Composites intends to keep the current employees at its pultrusion facility.
“We are very pleased with the interest that Razor Composites and James Hardie have shown in Teel’s Pultrusion Division and our new product developments," says Jay L. Smith, Teel chairman. "James Hardie has the network in place to take these developments to the next level. The change will allow Teel to focus more on the opportunities in its core business of plastic extrusion. This is a wonderful opportunity that will benefit the employees, Baraboo and the state of Wisconsin.”
Teel Plastics will continue to own and operate its Baraboo-based custom plastic extrusion business, its natural fiber composites compounding and extrusion business, and other business units.