Unifrax Completes Acquisition
Niagara Falls, NY, June 1, 2007- Unifrax I LLC ("Unifrax"), the Niagara Falls, NY based manufacturer of ceramic fiber insulation products, announced today that it had completed the previously announced acquisition of the ceramic fiber business of KERAUNION, a.s. ("Keraunion") from UNION LESNI BRANA, a.s. Terms of the transaction were not disclosed.
Keraunion is located in Dubi, in the Czech Republic, near Prague and is the leading supplier of ceramic fiber products in the Czech Republic. The business was acquired by a newly established Unifrax Czech subsidiary, UNIFRAX, s.r.o. and will operate under that name effective immediately.
Unifrax is a leading global supplier of insulation products that are used in many high-temperature industrial, automotive and fire protection applications. The Company has 14 manufacturing facilities in the United States, Europe, Asia and Latin America and employs approximately 1,300 people worldwide.
David E. Brooks, Unifrax President and CEO, comments, "The addition of Keraunion provides exciting potential for continued growth in Eastern Europe and enhances our European manufacturing capabilities".
Mr. Petr Skvara, Managing Director of Keraunion, will stay with the business and serve as a Managing Director of Unifrax, s.r.o.
Brooks added, "We are excited about the addition of the Keraunion team to the worldwide Unifrax family. We look forward to working together to continue to grow the business".
Unifrax is owned by the international private equity investment firm AEA Investors LLC ("AEA"), and Unifrax management. With offices in New York and London, AEA focuses on investing in companies in the industrial products and services, specialty chemicals, and consumer products sectors.
Additional information is available at AEA's web site, www.aeainvestors.com.
Unifrax I LLC Corporate Headquarters 2351 Whirlpool Street Niagara Falls, New York 14305-2413 Telephone 716-278-3800 Telefax 716-278-3900
Email info@unifrax.com Website www.unifrax.com
