PLP ANNOUNCES ACQUISITION OF PILOT PLASTICS

February 2, 2023

CLEVELAND, OHIO – Preformed Line Products Company (NASDAQ: PLPC) announced today that it has acquired substantially all of the assets of Pilot Plastics, Inc.

Founded in 2001 and located in Peninsula, Ohio, Pilot Plastics is an injection molding manufacturing specialist with over two decades of experience serving various consumer and B2B industries, including partnering with PLP over the last fifteen years on multiple manufacturing projects.

With multiple state-of-the-art presses and a highly experienced production team, the Pilot acquisition will expand PLP’s injection molding capabilities and further enhance the company’s extensive manufacturing footprint.

“We are excited to build on our fifteen-year partnership with Pilot Plastics through this acquisition,” stated John Hofstetter, Executive Vice President of U.S. Operations at PLP. “Pilot’s extensive knowledge and history of injection molding manufacturing will bring much-needed additional capacity to produce critical infrastructure components for North America’s current and future high-speed broadband deployment projects, including advanced FTTH (Fiber to the Home) and 5G networks.”

For PLP, this investment will support future growth in the company’s industry-leading COYOTE® fiber optic connectivity devices and FIBERLIGN® hardware solutions.

“We at Pilot Plastics are honored and excited to be a part of the PLP family; their values and visions align perfectly with ours. Most importantly, they are a proud Northeast Ohio company. Combining our forces further strengthens and supports manufacturing in this important region,” said Mick Jendrisak, President and CEO of Pilot Plastics.

Hofstetter added, “We are confident that our current strategy and ongoing investments will further enhance our customer service objectives, including improving lead times and adding support for our global customer base. In addition, PLP’s research and engineering group and product marketing teams are especially excited about Pilot’s proximity to our global headquarters in Cleveland. We see this as an excellent opportunity to collaborate more easily and further accelerate product development cycles.”

PLP plans to gradually transition product line manufacturing and additional capacity to Pilot throughout the year.

To download the press release, click here.

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