Spartech purchases Alshin Corp.

Spartech Corp. (St. Louis) has completed its purchase of Alshin Corp. (Rancho Cucamonga, CA), a manufacturer of urethane-based tires. Alshin, which primarily supplies the healthcare industry, has annual sales of approximately $10 million.

According to Bradley B. Buechler, chairman, president and CEO of Spartech, the acquisition complements the company's Spartech Industries-Custom Engineered Wheels operation in Warsaw, Indiana, which produces tread cap wheels. Alshin's urethane-based tires provide for extended wear and a soft ride, with a no flat design, for use in medical, material handling, lawn and garden, and recreational product applications, he added.

"In addition to new product capabilities and expanded markets, Alshin's West Coast facility provides for better geographic coverage for our customers," Buechler continued. "The acquisition had a cash purchase price of approximately $10 million, was financed through our bank credit facility, and will be accretive to Spartech's earnings (about 2 cents per share) immediately."

Spartech is a producer of engineered thermoplastic materials, polymeric compounds, and molded and profile products. The company has over 50 facilities located throughout North America and Europe, with annual production capacity and sales of more than 1.2 billion pounds and $950 million, respectively.

Edited by Jim Pomager