Plastics Extrusion Machinery LLC (PEM), one of the leading manufacturers of downstream extrusion equipment in the PVC plastics industry, announced today that it has completed the acquisition of Advance Equipment Company (AEC), a leading manufacturer of downstream equipment located in Tumwater, Washington.
“This is an exciting step forward for both PEM and AEC. AEC is one of the best in small-diameter, downstream equipment in the industry,” says Nathan Spearman, PEM CEO, “Dick has done an amazing job innovating his product line; that’s what makes AEC such a great strategic fit with our existing large-diameter, downstream extrusion business. This will position us to offer increased quality of products and will allow for a greater synergy when serving our customers.” Spearman became PEM’s new CEO in December 2017, after having 15 years in the plastics industry as CFO for a multi-national corporation.
“The decision to sell the company wasn’t an easy one; I have been approached with several offers from many interested companies.” says Dick Hoverter, Former CEO AEC and current PEM Director of Innovation, “I wanted to make sure I was selling it to the right person (company), and I believe I have. I look forward to working with PEM and bringing the best equipment to the industry on even a grander scale.”
Both manufacturing companies have served the American PVC plastics, profile and siding industries since 1978.
The PEM product line will consist of: vacuum tanks, cooling tanks, pipe pullers, siding and profile pullers, saws, belling equipment, hydrotesters, punches and slotters, profile shears, pipe and panel shears, boxing tables, material handling equipment, bundlers, pipe flippers, lift and rotators, pipe threaders, and chamfering tools – all of which can be custom designed to meet customer requirements.