GE PLASTICS TO ACQUIRE CADILLAC PLASTICS AND COMMERCIAL PLASTICS
GE Plastics, an operating unit of General Electric Company, announced that it has reached agreement with M. A. Hanna of Cleveland to acquire most of the assets and business of Cadillac Plastic, a distributor of plastic sheet, rod, tube, film and engineered plastic shapes with headquarters in Troy, Mich. The acquisition, which is subject to regulatory approval, is expected to be completed soon. Terms of the agreement were not disclosed.
Cadillac Plastic will continue to offer a full line of products to a number of industries including sign and display, glazing and aerospace. The business will be managed separately from GE's existing resins and sheet extrusion businesses as a distinct business unit.
Cadillac Plastic carries a full line of plastics for engineering, film, sign and display, glazing and aerospace applications, and maintains branches in the United States, Canada, The Netherlands, Australia, New Zealand, the United Kingdom, The People's Republic of China, Hong Kong, Singapore, Taiwan, Korea, Vietnam and Malaysia.
More recently, GE Plastics announced plans to also acquire Commercial Plastics & Supply Corp., of Boca Raton, FL - a major distributor of plastic sheet, rod, tube, and film.
For more information, contact: GE Plastics' Bob Hess at 413-448-7594, or M. A. Hanna's Chris Farage at 216-589-4085.