Unifrax Announces Acquisitions
Niagara Falls, NY, August 1, 2011 - Unifrax I LLC ("Unifrax"), the Niagara Falls, NY based manufacturer of ceramic fiber insulation products, announced today that it had acquired three leading North American vacuum forming businesses, Refractory Specialties Incorporated ("RSI"), Specialty Ceramics Incorporated ("SCI") and VacuForm Incorporated ("VFI").
The three businesses specialize in the development, manufacture and sale of fiber-based, value-add shapes used in a wide variety of applications in both the Industrial and Hearth Products markets.
RSI and VFI are located in Sebring, Ohio and SCI in Columbiana, Ohio. The three businesses employ approximately 140 employees who will be joining the Unifrax North American team.
David E. Brooks, Unifrax President and CEO, comments "These three businesses have a great reputation, a proud heritage and excellent people. We have been a supplier to them for many years, know them very well and respect their capabilities. They each bring a product offering and technology that will make us a stronger business. These acquisitions represent another positive step in the continued implementation of the Unifrax long-term growth strategy".
Richard Wilk, who heads RSI and SCI and Michael Hubbs, a Principal of VFI, will stay with the acquired businesses and continue to lead the implementation of their respective growth initiatives and the integration of the businesses into Unifrax North American operations.
Added Brooks, "We look forward to working with Dick Wilk and Mike Hubbs to continue the long track record of success they have established over the years. We are excited about the future growth potential that the three businesses have. Dick and Mike both bring an entrepreneurial approach and creativity that Unifrax will benefit from."
Terms of the transaction are confidential and were not disclosed.
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 20 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
