Unifrax Announces Acquisition
Niagara Falls, NY, August 19, 2011 - Unifrax I LLC ("Unifrax"), the Niagara Falls, NY based manufacturer of ceramic fiber insulation products, announced today that through its Hong Kong subsidiary, Unifrax Asia-Pacific Holding Ltd, it had acquired the catalytic converter emission control mat business of Zhejiang Bondlye Motor Environmental Technology Co., Ltd. ("Bondlye Mat Business"). Terms of the transaction are confidential and were not disclosed.
The Bondlye Mat Business produces support mat products used in automotive catalytic converters. They are the leading supplier of emission control mat products to the domestic Chinese automotive manufacturers.
The business is located in Linhai, China in the Zhejiang Province. It employs approximately 25 people who will be joining the Unifrax China team.
David E. Brooks, Unifrax President and CEO, comments "The Bondlye Mat Business is an important strategic addition to our Emission Control Business in China. The business has an excellent reputation in the Chinese market and is very well positioned with the domestic Chinese automotive OEMs. Combining our respective development, manufacturing and sales capabilities will help the business to continue to grow and meet the evolving product and service needs of the Chinese automotive market".
Added Brooks, "Mr. Chen Faxian and Ms. Huang Zhixia, principals of Zhejiang Bondlye Motor Environmental Technology Co., Ltd, have done a wonderful job growing the Bondlye Mat Business. We are very pleased they have shown the confidence in Unifrax to become stewards of the business and build upon the success they have achieved to date. We look forward to working with them to integrate the business into our Chinese operations".
Unifrax I LLC is a leading global supplier of insulation products that are used in many high-temperature industrial, automotive and fire protection applications. The Company has 21 manufacturing facilities in the United States, Europe, Asia and Latin America and employs approximately 1,400 people worldwide.
For Further information, contact:
David Brooks
Unifrax I LLC
2351 Whirlpool Street
Niagara Falls, NY 14305
716-278-3880
