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TUSCARORA PLASTICS REACHES AGREEMENT TO ACQUIRE MAJOR NEW ENGLAND CUSTOM MOLDER

 TUSCARORA PLASTICS REACHES AGREEMENT TO ACQUIRE MAJOR
 NEW ENGLAND CUSTOM MOLDER
 NEW BRIGHTON, Pa., Dec. 9 /PRNewswire -- Tuscarora Plastics, Inc. (NASDAQ: TUSC) announced today it has reached agreement to acquire the custom foam molding business of Glendale Plastics, a division of The Hanson Group Ltd.
 According to John P. O'Leary Jr., president and chief executive officer of Tuscarora Plastics, Glendale Plastics, located in Ludlow, Mass., is one of New England's oldest and most respected custom foam molding companies.
 "We feel very fortunate to be able to acquire this business. Glendale is one of the early pioneers in the custom foam molding business and is highly regarded by its customers and competitors," O'Leary said. O'Leary also said the acquisition will enable Tuscarora to significantly increase its share of business in the New England region.
 The acquisition is expected to result in approximately $5.5 million in additional sales. Tuscarora, which recently reported its year-end results for fiscal year 1991, had net sales of $84.4 million as of Aug. 31, 1991.
 According to Glenn Hanson, president of The Hanson Group, the sale was made as part of its new strategic plan to concentrate on other aspects of its business. The Hanson Group is a major manufacturer of precision injection molds and tools through its Mold System Division. Its injection molding business operates under the name of Vision Plastics. Hanson, in a letter to Glendale Plastics' customers, said The Hanson Group will continue to use foam plastics in conjunction with its injection molding business. "We look forward to developing an ongoing working relationship with Tuscarora Plastics," he said.
 O'Leary said the company plans to relocate the manufacturing capabilities of the Ludlow plant to Tuscarora's other facilities in the Northeast. The acquisition is expected to be completed by mid-January 1992. In November of 1989, Tuscarora acquired Preferred Plastics of Putnam, Conn. Following that acquisition, the company consolidated its business from an older plant it operated in Essex, Conn., to the newer and more efficient facility in Putnam.
 Tuscarora Plastics, founded in 1962 in New Brighton, is the nation's largest producer of custom molded foam plastic products made from expanded plastic materials. The company molds and fabricates these materials into: protective packaging and material handling products for a wide range of industrial and consumer product manufacturers; and thermal insulation and component parts for original equipment manufacturers. The company also manufactures corrugated internal packaging forms constructed from die-cut and glued paper-based materials.
 Tuscarora currently operates manufacturing facilities at 20 locations throughout the United States.
 -0- 12/9/91
 /CONTACT: Brian Mullins of Tuscarora Plastics, 412-843-8200/
 (TUSC) CO: Tuscarora Plastics, Inc.; Glendale Plastics ST: Pennsylvania, Massachusetts IN: CHM SU: TNM


MP-MK -- PG003 -- 0413 12/09/91 09:17 EST
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Publication:PR Newswire
Date:Dec 9, 1991
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