Spartech Selling Profile Extrusion Business
Spartech Corp., a St. Louis-based producer of plastic sheet, compounds, and packaging products, reports it has entered into an agreement to sell its profile extrusion business located in Winnipeg, Man., to Acrylon Plastics Inc. The operation supplied window and door profiles to manufacturers across Canada.
The purchaser, Acrylon, is not new to the window and door business. Based in Winnipeg, Acrylon supplies OEM customers with molded and thermoformed plastic components, but aso incorporates the business of one-time Western Profiles, an extruder that has served window and door fabricators in Western Canada for many years.
Craig McIntosh was the owner of Western Profiles, and acquired Acrylon in 2005, reports Garth Suppes, Acrylon's director of sales and marketing. Western Profiles was rolled into the Acrylon business in 2008.
The purchase of the Spartech operation, including the rights to its window and door designs, was attractive to Acrylon because the unit supplies window and door makers across Canada., Suppes notes. Although no specific plans have been made, the Spartech operation will help position Acrylon to expand its window and door business beyond its Western Canada base.
The sale is expected to close in October. The Spartech unit was reported to have annual sales of about $9 million. Spartech, which reported sales of $1.4 billion in fiscal 2008, has seen sales drop significantly with the economic downturn and previously announced plans to restructure its portfolio, including the divesture of non-core assets. The publicly-traded manufacturer announced the sale of the Winnipeg unit as part of its third quarter sales report.