PLP ANNOUNCES ACQUISITION OF HOLPLAST, S.R.O.

Rhea-AI Summary

On March 1, 2022, Preformed Line Products Company (NASDAQ: PLPC) announced the acquisition of HOLPLAST, s.r.o. in Prostějov, Czech Republic. This strategic move aims to enhance PLP's manufacturing capabilities amidst rising global demand for communication products. CEO Rob Ruhlman emphasized that HOLPLAST's skilled workforce will contribute to improving PLP's existing EMEA operations. PLP is committed to delivering superior network solutions globally, ensuring high-quality products for energy and communications sectors.

Positive

• Acquisition of HOLPLAST strengthens PLP's manufacturing capabilities.
• Increased capacity to meet growing global demand for communication products.
• Experienced workforce from HOLPLAST enhances PLP's EMEA operations.

Negative

• None.

CLEVELAND, March 1, 2022 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) announced today that it has acquired HOLPLAST, s.r.o., based in Prostějov, Czech Republic.

"The acquisition of HOLPLAST further strengthens PLP's manufacturing capability to support the increasing global demand for our communications products. Their talented team of employees has a long history of producing high-quality molded components for a demanding customer base and will enhance PLP's existing EMEA operations," stated PLP's Chief Executive Officer and President Rob Ruhlman.

ABOUT PLP

PLP protects the world's most critical connections by creating stronger and more reliable networks. The company's precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in over 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.

 

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SOURCE Preformed Line Products

FAQ

What is the significance of PLPC's acquisition of HOLPLAST?

The acquisition strengthens PLPC's manufacturing capabilities and supports increased global demand for communication products.

When was HOLPLAST acquired by PLPC?

HOLPLAST was acquired by PLPC on March 1, 2022.

Where is HOLPLAST located?

HOLPLAST is based in Prostějov, Czech Republic.

How will the acquisition impact PLPC's operations in EMEA?

The acquisition will enhance PLPC's existing operations in the EMEA region by leveraging HOLPLAST's skilled workforce.

What is PLPC's focus in the communications industry?

PLPC focuses on creating stronger and more reliable networks for energy and communication providers worldwide.