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Letter from the Chairman of the Board, Bill Miller

Today, the successful acquisition of PSA marks another milestone moment in PLI’s history. One cannot help but reflect on our past as we take yet another major leap forward into our future.

PLI, Inc. was started twenty-eight years ago by an Asheville, North Carolina retiree, who sold plastic keycards for a new, innovative lock system from his basement office. Today, with the purchase of PSA, PLI is a $175,000,000 sales and manufacturing company employing over 1,000 people with production plants in North Carolina, Nevada, Missouri, and Illinois.

Despite nearly two decades of economic headwinds, which has closed or relocated thousands of American factories and eliminated millions of manufacturing jobs, PLI has experienced nearly a twenty percent compounded rate of growth year over year. Credit for such an exceptional performance by a non-tech company during this era goes first to Mark Goldberg, who for fifteen years as General Manager had the vision, determination, and work ethic to withstand many early challenges to build the foundation of a solid, successful company. And then to Peter Krauss as CSMO and now current CEO and President, who has been the driving force in expanding and diversifying the company’s product mix into gift, loyalty and membership cards. In addition, he has negotiated long term hospitality contracts, identified, then negotiated three game changing acquisitions—all of which have propelled the company to its current position as the dominant industry leader.

As Peter has said many times, “Being the biggest is a lofty goal more easily achieved than being the best.” I have no doubt we are and will continue to outpace the economy, outpace our industry, and be the best at everything we do. As we look towards the future, I urge you to follow his lead, work as a team and stay focused on the bright future ahead of our company.

William Miller

Chairman of the Board