Euclid Chemical closes on synthetic fiber source, PSI Packaging

Source: RPM International Inc., Medina, Ohio

 Euclid Chemical has added to its synthetic concrete fiber program with the acquisition of LaFayette, Ga.-based PSI Packaging Inc., which offers micro and macro product for ready mixed and precast producers. With annual sales upward of $6 million, PSI was founded in 1999 by four principals involved in the transaction; it will join Euclid Chemical under the RPM Building Solutions Group, serving construction markets worldwide.

 PSI provides a complementary product line to existing Euclid Chemical fibers.

"This acquisition brings additional manufacturing and sales capacity for fibers used in concrete reinforcement to Euclid and [the] Building Solutions Group," said RPM Chairman Frank Sullivan. "PSI will expand its geographical product presence through Euclid Chemical's strong international sales and marketing organization.” Joining RPM in the transition, he adds, are PSI team leaders Dave Bliek and Grant Beasley, who have been appointed sales manager and director of operations, respectively.