Atlantis Plastics Inc. today (Nov. 10) announced it had completed the acquisition of the assets of LaVanture Plastics, a longtime supplier of molded plastic products to the recreational vehicle industry.
According to a press release, LaVanture Plastics’ operations in Elkhart, Ind., will become part of Atlantis Plastics’ Molded Products Group, giving the division a total of 10 manufacturing facilities in North America.
John A. Geary, Vice President and General Manager of Molded Products Group stated: “The acquisition is a natural fit with our existing profile extrusion and injection molding businesses. It strengthens our position in the regional recreational vehicle market, while continuing to diversify our current market segments in the Molded Products Group. Furthermore, LaVanture Plastics’ two facilities are located in Elkhart, Indiana and are within 10 miles of Atlantis Plastics’ existing two facilities.”
Anthony F. Bova, President and Chief Executive Officer of Atlantis Plastics, of Atlanta, noted: “LaVanture Plastics has been a highly profitable profile extrusion and injection molding business for many years. We expect the acquisition to increase the sales of our Molded Products Group by approximately $12 million in 2005 and be accretive to Atlantis Plastics by $0.10 to $0.12 per fully diluted share. The acquisition will be an excellent platform to facilitate the growth of our Molded Products Group through the support of the regional recreational vehicle market.”
Atlantis Plastics is a leading U.S. manufacturer of polyethylene stretch and custom films and molded plastic products, supplying the RV, appliance, automotive, agricultural and building supply industries.