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Aug 27th, 2008                                Print this article

Thermoset plastics: British B&C firm buys Creative Pultrusions

By Matt Defosse

Hill & Smith Holdings PLC (www.hsholdings.co.uk) will acquire 100% of Creative Pultrusions Inc. (Alum Bank, PA; www.creativepultrusions.com) for $21 million in cash. Creative Pultrusions will become a wholly owned subsidiary of Hill & Smith through its U.S. subsidiary, Hill & Smith Holdings Inc. The transaction is expected to be completed in September.

Hill & Smith is an infrastructure, galvanizing, construction, and building products company with operations worldwide. Over the last two years, Creative Pultrusions has been providing technological assistance to Redman Fisher Hill & Smith, a Hill & Smith subsidiary, to help that firm process pultruded glass-fiber reinforced products at its Telford, England facility.

Robert Sweet Jr., CEO of Creative Pultrusions, will be retiring as chief executive following completion of the transaction. He will be succeeded as CEO by Creative Pultrusion’s current chief operating officer, Shane Weyant. There will be no other changes in the senior operational management of the business.

Sweet founded Creative Pultrusions in December 1972 to develop a prototype component for General Motors. The company generated $250,000 of revenue in its first year; its annual sales now exceed $35 million, and it has more than 185 employees.—mdefosse@modplas.com

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