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Sapona Plastics is closed as of 8AM this morning due to snow and ice event in order to protect the safety of workers. Dean Lail,
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Seagrove, NC, 11/1/2021:
Sapona Plastics has completed a buyout of its founding partner’s interest and is now 100% owned by JBDJ, LLC. The management team of Sapona Plastics will remain essentially unchanged except for president Dean Lail assuming the CEO role from his father Jack C. Lail who will continue as chairman and Kathryn Baker promoting to chief financial officer. The acquisition was facilitated by the company’s long time primary lender, First Horizon Bank, NA. Sapona Plastics plans to expand operations by adding injection molding operations at plant 2 in Seagrove and more than 20 jobs in the coming year. “The workers of Sapona Plastics, along with our suppliers and community, are growing together to provide an essential service to a diverse base of manufacturing customers across the United States” according to Dean Lail. Sapona Plastics produces plastic items and assemblies for various markets including telecom, housewares, HVAC, industrial and consumer packaging. The company has 23 injection molding machines, 120 employees and two plants. Sapona Manufacturing and JBDJ, LLC established Sapona Plastics as a joint venture in 2004. Over the last few years Sapona Manufacturing Co. Inc. has been divesting assets including its yarn manufacturing operation in Cedar Falls, NC which is now owned by Universal Fiber Systems and is continuing there as Sapona Yarns. Sapona Manufacturing is expected to only continue to exist long enough to finalize final liquidation. JBDJ, LLC is a family real estate holding company founded by Jack C. Lail and will continue to lease facilities to Sapona Plastics. Sapona Manufacturing has had a 105-year history in Randolph County under the current owners and was originally founded in 1836. “We are extremely thankful for the guidance and financing Sapona Manufacturing has provided to help Sapona Plastics get started and grow” said Dean Lail. “Now that the investment has been fulfilled Sapona Plastics is positioned to continue its path of investment and growth into the future. In part, the legacy of Sapona Manufacturing will continue on through Sapona Plastics.” More info can be found at the website: https://www.saponaplastics.com/ |
