Niagara Falls, NY, May 16, 2007 - Unifrax I LLC ("Unifrax"), the Niagara Falls, NY based manufacturer of ceramic fiber insulation products, announced today that it has entered into an agreement with UNION LESNI BRANA, a.s. ("ULB") to acquire the ceramic fiber business of its wholly owned subsidiary company KERAUNION, a.s. ("Keraunion"). Terms of the transaction were not disclosed.
Keraunion is located in Dubi, in the Czech Republic, near Prague. It is the leading supplier of ceramic fiber products in the Czech Republic and also does a substantial amount of export business into the EU. The business has approximately 100 employees who will be joining the Unifrax European team.
Unifrax Corporation is a leading global supplier of insulation products that are used in many high-temperature industrial, automotive and fire protection applications. The Company has 13 manufacturing facilities in the United States, Europe, Asia and Latin America and employs approximately 1,200 people worldwide.
David E. Brooks, Unifrax President and CEO, comments "Keraunion is a Company with a great reputation, a proud heritage and excellent people. In addition to its strong market position in the Czech Republic, the business has excellent manufacturing and fabrication capabilities. It is also well located to support our growth initiatives in the Eastern European region".
Brooks added "This acquisition represents another positive step in the continued implementation of the long-term growth strategy for our Company". The acquisition is expected to close at the end of May.
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.
For Further information, contact:
Unifrax I LLC
2351 Whirlpool Street
Niagara Falls, N.Y 14305