Acquisition ... MAAX Acquires Aker Plastics
August 1, 2002
MAAX Inc. signed an agreement in principle to acquire all the outstanding shares of Aker Plastics, a large U.S. manufacturer of fiberglass bathroom equipment. Aker Plastics, which has three plants, one in Martinsburg, W.Va., and two in Plymouth, Ind., distributes through plumbing wholesalers. MAAX said the acquisition, scheduled to close Oct. 25, subject to regulatory approvals, will make it one of the top three manufacturers of fiberglass and acrylic bathroom products in the United States. Aker's key executives will continue to manage the business.