Wednesday, Sep 28, 2016
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Libbey buys business making plastic products

Libbey, Inc., of Toledo, the biggest U.S. glassware maker, said yesterday it has purchased Menasha Corp.'s Traex business to add plastic products to its line of wares.

Terms of the transaction, announced after the stock markets closed, weren't disclosed. The purchase will add $17 million to $18 million in annual sales and 3 cents to 5 cents in earnings per share in the first year, the company said.

Traex makes glassware washing and storage racks, trays, and other products for restaurants and hotels and has about 100 employees.

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