14 June 2001
14 June 2001
Composites One has acquired of Plas-tex, one of the largest regional distributors of composite materials in the US with locations in Houston and Ft. Worth, Texas. They also have a location in the Tulsa, Oklahoma, area that serves Oklahoma and Eastern Arkansas. Plas-tex was founded in 1953 and has grown to become the leading distributor in Texas.
The acquisition of Plas-tex gives Composites One the leading market share position in one of the largest composite producing states in the country. The acquisition also reinforces Composites One as the leading composites supplier in North America.
In a statement, Leon Garoufalis, Composites One COO, said, “This acquisition is a perfect complement to Composites One. The Plas-tex business philosophy is much like that of Composites One - we provide exceptional service to the customer from local distribution centers dedicated to the composites fabricator.” Garoufalis further added that “The combination of Plas-tex and Composites One gives significant advantages to customers in Texas and surrounding markets by offering them the most complete product selection available and important value-added services, including the newly introduced Composites One online business capabilities. We have always been impressed with Plas-tex’s service and commitment to customers and we look forward to carrying on that heritage. Our objective is a seamless and positive transition.”
Terry Smith, Chairman of Plas-tex, added, “Plas-tex has always made our customers the number one priority. I am confident that our customers will see real benefit from combining Plas-tex service with Composites One’s extensive product line and resources”.