Quanex Acquires LMI Custom Mixing Assets, Broadens Polymer Solutions Capabilities
LMI, a leader in custom polymer compounding, will complement Quanex’s polymer expertise while expanding key capabilities for new and existing customers.
HOUSTON, Nov. 2, 2022 — Quanex (NYSE: NX) (the “Company”) announced yesterday the acquisition of LMI Custom Mixing, LLC (“LMI”), an advanced polymer solutions provider with a focus on advanced methods for mixing rubber compounds for the most demanding applications.
The acquisition will complement and expand Quanex’s polymer solutions expertise, enabling the Company to diversify into key new markets, enhance polymer solutions for its existing businesses and deliver an enhanced experience to LMI customers throughout North America.
Located in Cambridge, Ohio, LMI operates a state‐of‐the‐art custom polymer mixing facility, featuring an advanced computer‐controlled facility capable of producing consistent, quality custom mixed rubber compounds. LMI will now be known as Quanex Custom Mixing with LMI team members transitioning employment to Quanex.
“LMI has been one of our important vendor partners for a long time, and we’re excited to welcome them to the Quanex family,” said Bob Daniels, President, Quanex North American Fenestration. “We’re confident their expertise will help us solidify and enhance our portfolio of solutions in the areas where we do business today, and as we seek to diversify, the LMI team will be essential in allowing us to develop innovative new compounds and meet our growth goals.”
LMI was identified not just for the complementary technology it will bring to Quanex, but for its shared culture, values and commitment to its customers. LMI backs its unique compounding capabilities with best-in-class customer service, delivery and technical support.
“Culturally, we couldn’t be more similar, and we believe bringing both companies together is a great fit,” said Daniels. “LMI has long empowered its people to do the best work possible for their customers, and that’s something we’re committed to continuing. What they bring to the table will help augment everything we do, bringing a new breadth of compounds that we can use to enhance what we offer to our customers.”
Jim Nixon, General Manager for LMI, commented, “Quanex has a tremendous reputation around quality and innovation, and we’re excited to join forces with a partner that is committed to our growth and creating new opportunities for our people to do great work. As a part of Quanex, we’ll strengthen our dedication to the custom mix market, while offering new capabilities and opportunities for our customer base to grow as we expand our portfolio of products. Our team is looking forward to working with a company that shares our culture and is strategically aligned with how we do business.”
“We’re confident LMI’s capabilities will help open new avenues for significant growth in both our current and adjacent markets,” said George Wilson, President and CEO, Quanex. “It’s a great match that will be mutually beneficial for our business and the LMI team.”
About Quanex, A Part of Something BiggerSM
Quanex (NYSE: NX) is a global, publicly traded manufacturing company primarily serving OEMs in the fenestration, cabinetry, solar, refrigeration and outdoor products markets. We are A Part of Something Bigger by improving the performance and aesthetics of end products through continuous innovation, helping customers achieve greater production efficiencies, dedication to giving back to communities where we operate, producing shareholder value and helping our employees learn, grow and thrive. Learn more at Quanex.com.