PLI Acquires CPI, Las Vegas
As communicated in a joint press release on January 13, 2015, Plasticard Locktech International (PLI) has completed the acquisition of the Las Vegas operations of CPI Card Group.
PLI has hired nearly 250 of the previous production and administrative employees of the plant and has begun the process of bringing the facility up to PLI's standards.
“As stated in our joint release, this deal simply made sense and adds significant capacity and more importantly, capabilities to our already successful operations in North Carolina,” said Peter Krauss the company's CEO.
Renamed, PLI Las Vegas, the plant will continue to focus on the Commercial segment of the card printing market with a specific focus on Gift, Loyalty and Membership cards. Its robust Fulfillment, Personalization and Data Management capabilities will continue to be utilized by marquee clients.
“The fact that PLI was able to negotiate, vet, fund, and close a purchase of this magnitude within such a short period of time, then within 24 hours staff and have the plant operational 2,500 miles from its home office is an amazing accomplishment and a testament to the commitment and quality of our entire Management Team,” said William Miller, PLI's Chairman of the Board.
The acquisition doubles PLI's manufacturing space bringing the total to more than 300,000 square feet. It nearly doubles the number of employees from 350 to 600, and makes PLI the largest manufacturer focused solely on the commercial card space both in terms of revenue and volume with the ability to produce nearly 1.5 Billion cards per year.
The Las Vegas location is also ideal as a Western Distribution center. Vegas will warehouse millions of cards and other products to service our customers located West of the Mississippi reducing transit times and cost.
“We are so proud that we were able to make this transaction happen, saving nearly 250 jobs in the process. The additional abilities this brings PLI will benefit our customers and employees alike. We are excited to welcome the new members to our ESOP and look forward to the amazing future we will enjoy together,” added Mr. Krauss.
The PLI Las Vegas facility is located at 1220 Trade Drive North Las Vegas, NV 89030. Main telephone number is 702-352-1773.