Plazit Polygal Plastics is set to be bought out by the American company Plaskolite for $210 million, reports Globes based on unnamed sources described as “close to the deal.” Plazit Polygal Plastics designs, develops and manufactures polycarbonate, thermoplastics and profiles and is currently owned by Kibbutz Gazit, which holds an 80% stake in the company. Leumi Partners owns the other 20%.
Plaskolite is a North American manufacturer of thermoplastic sheet. Plaskolite is a member of Pritzker Private Capital, which partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors.
This marks the second time in the last three months that Kibbutz Gazit has sold off one of its assets. In August,Gazit sold the Israeli manufacturer of trays for the food industry MCP Performance Plastic, to the Danish manufacturer of food packaging solutions, Faerch, for €57 million ($67 million).
Founded in 1973, Plazit Polygal currently has more than 1,000 employees and owns plants in Israel, Russia, the US, Chile, Bulgaria, and Spain.
Plazit Polygal is a leader in the design, development, and manufacturing of thermoplastic sheets and profiles. With products used worldwide in a broad range of markets and applications, Plazit declares that it “bridges innovation, quality, and service as it’s cornerstone for success. The company provides continually provides products known worldwide for durability, strength, light transmission, specialty coatings, ease of installation and superior quality. “These products provide optimal performance and solutions for walkways, canopies, pool coverings, skylights, roof systems, clerestories, commercial and residential greenhouses, interior design, P-O-P displays, signage, window glazing and much more.”
Its sheets for car parking structures offer a durable shading and weather protection solution. PLAZIT-POLYGAL Polycarbonate sheeting is used for creating attractive creative arched car park canopies and pergola structures.
The company’s Monogal polycarbonate sheeting, or Plazgal GPPS polystyrene sheets, can be used for creating esthetic, colorful, and creative window openings. They are strong, constructed to withstand impact, but at the same time they are light and flexible. They can be bent easily without pre-treatment, making them uniquely suitable for creative glazing projects.
And the company’s Sheets are a solution for light domes, allowing plenty of natural light penetrating the building and creating a pleasant and productive atmosphere for workers while saving on lighting costs. The high level of thermal insulation provided by PLAZIT-POLYGAL sheets helps to save energy when heating the buildings. Several of their sheet-types can also be treated with infra-red radiation filters to prevent overheating in the summer. Because they are light PLAZIT-POLYGAL plastic roofing sheets allow for wide coverage without the need for supporting beams, dramatically reducing construction costs while offering superior strength and durability.