FOR IMMEDIATE RELEASE
Rock West Composites Acquires the Assets of Performance Plastics, Inc.
Rock West Composites announces that on September 8, 2023, it acquired the assets of Performance Plastics, Inc. and is integrating its staff, facility, and equipment into RWC’s operations. The executive team believes that the complementary capabilities of Performance Plastics offer significant expansion potential for Rock West, as the business continues to meet its aggressive growth targets.
San Diego, CA (PRWEB) September 13, 2023 – Rock West Composites (RWC) announces the acquisition of the assets of Performance Plastics, Inc. (PPI) on September 8, 2023. This addition will expand RWC’s product offering into complementary markets that have little overlap with its existing businesses but use similar materials and processes. The new staff and facilities will also add metallic manufacturing, machining, forming, and bonding to RWC’s technical expertise. PPI brings significant business opportunities through their customer process specification approvals and long-term supply agreements with multiple prime contractors.
PPI’s staff of 80 people, who represent a complementary and diverse talent base, will join RWC’s employee-owners bringing the total team to 360. Adding PPI’s 50,000 square feet to RWC’s current expansion of its Salt Lake City facility will result in over 275,000 square feet in total manufacturing space.
This acquisition, along with continued success in their current markets, will add to RWC’s history of revenue growth, demonstrated by their 26% CAGR over the past 10 years.
PPI’s President Jim Renaud shared, “Today marks an historic and exciting milestone for all of us: the transaction of Rock West Composites, Inc. adding Performance Plastics, Inc. is complete. Together, we will form a stronger business, drive further growth and innovation, creating more value for our employees, customers, and suppliers.”
RWC’s CEO Jim Gormican stated, “We are very excited with the addition of PPI’s People, Capability and Capacity to Rock West, which will enhance the value we bring to our combined customer base. This will clearly accelerate our strategic growth into the future!”
About Performance Plastics, Inc.
California-based PPI is a manufacturer of precision-engineered composite aerostructure components for major military and commercial OEMs, as well as Tier 1 suppliers. Founded in 1982, PPI focuses on small- to mid-size assemblies, and has an extensive list of customer qualifications covering both metal bond and composites processes.
About Rock West Composites
Rock West Composites is an employee-owned, advanced composites company. RWC develops, engineers, manufactures, and tests composite products for multiple industries including Aerospace & Defense, (space, radomes, and weapon components) Commercial Equipment (industrial, medical, and energy), and Sporting (outdoor, racing safety, marine products). The company is also one of the largest ecommerce suppliers of off-the-shelf carbon fiber tubes, plates, materials, and accessories.
The company’s vision is to “make the magic of composite technologies accessible to the world” by executing flawlessly and providing customers a competitive advantage, all while making it easy to buy. Rock West Composites has locations in San Diego, California; Salt Lake City, Utah; and Baja California, Mexico.