According to the Asheville Citizen-Times, In the last 24 years, city-based Plasticard Lochtech International has grown into the world’s largest manufacturer of plastic key cards. Now, PLI has taken over the hotel key card division of a Canadian competitor, LOC International, locking up 85 percent of the hotel market in North America.

“This deal brings several large contracts to our company, including some of the biggest names in hospitality,” said Peter Krauss, PLI’s chief sales and marketing officer. The acquisition offers the “opportunity to grow our business, both in the States and abroad, at an even faster pace.”