Prizm Vinyl snags West York warehouse
A vinyl fencing company formed from the remains of an Israeli manufacturer has purchased a 22,000 square-foot warehouse in West York borough.
Prizm Vinyl Corp. of York Township purchased the property for $390,000 from York Corrugating Co., a subsidiary of YC Precision Fabrication also based in West York.
The deal, which settled last month, was brokered by ROCK Commercial Real Estate in York.
Prizm Vinyl Corp. began selling vinyl fencing materials in 2005 after Palkar Limited, an Israeli manufacturer of fencing materials, went bankrupt. In 2004, a representative for Palkar emailed Edward Shapiro - then an employee of the company working in York - letting him know it was ceasing production.
"That was the only communication I had with Palkar until I spoke with the bankruptcy attorney and the bank in Israel to find out what they wanted to do with the assets here in the states," said Shapiro.
Because Palkar could not afford to ship materials back to Israel, a deal was struck under which Shapiro would assume ownership of Palkar’s assets in York County, including property and manufacturing materials.
"They basically gave them to me," said Shapiro.
Shapiro formed Prizm Vinyl Corp. in 2005 and established the company in multiple national markets by selling single-board vinyl fencing - a relatively niche product in the fencing industry.
The company endured steep losses after the 2008 financial crisis, losing 50 percent of its volume in the ensuing recession, said Shapiro. After cutting back costs and production, the company was able to return to pre-recession levels in 2016.
According to Shapiro, Prizm’s profit margins are greater as volume has continued to increase.
"Our volume picked up on the vinyl and aluminum side of the business. We got to a different tier of pricing that allowed the profitability to increase dramatically," said Shapiro.
In 2017, the company added new jobs, including plant workers and installation crews. Currently, the company has 14 full-time employees.
Prizm Vinyl was formerly housed on Loucks Mill Road in Springettsbury Township, but decided to leave when the lease on that property ended in January. According to Shapiro, the move was prompted by landlord issues.