Imsa unit acquires Spain panel maker
MONTERREY, MEXICO - Grupo Imsa SA de CV of Garza Garc¡a, Mexico, is gaining its first European production with the purchase of Europe's second-largest maker of fiberglass-reinforced panels, and is adding an acrylic panel line in Spain.
Imsa's Empresas Stabilit unit bought Lightfield of Barcelona, Spain, in a 10.6 million euros ($10.4 million) deal announced July 31. Lightfield was owned by Grupo Uralita.
The move will give Stabilit - part of Monterrey-based Imsa's Imsatec division - a 65 percent share of the market in Spain, up from 9 percent, said Imsatec President Benjamin Clariond.
``After successfully setting up the operations of a distribution center in Spain, this acquisition consolidates the original plan of having production facilities in this region in order to gain more direct access and offer better service to the European market,'' Clariond said in a news release.
Stabilit claims to be the second-largest producer of acrylic fiberglass-reinforced panels in North America, with sales to the construction, truck and trailer industries. Lightfield's sales were expected to hit 21 million euros ($20.7 million) this year. Stabilit has annual sales of about $100 million.
Rotonics to supply light poles to Hadco
GARDENA, CALIF. - Rotonics Manufacturing Inc. has entered a five-year agreement to supply a line of specialty light poles and accessories to lighting maker Hadco Lighting Inc.
The outdoor poles are intended to replace those currently produced from metal, fiberglass or concrete.
Gardena-based Rotonics and Hadco, of Littlestown, Pa., will jointly design light pole systems, touted as durable, lightweight and low-maintenance with an optional protective barrier. Hadco markets its lighting products to utility companies and municipalities throughout the United States.
Sherman McKinniss, retiring president and chief executive officer, said his firm will showcase the new line during the 2003 International Builders Show, scheduled for Jan. 21-24 in Las Vegas. He would not disclose technical or financial details on the project yet, but his firm is expected to begin production in September.
Rotonics has been manufacturing a line of classical lighting for nearly 30 years. Currently, the firm produces components at facilities in Las Vegas; Brownwood, Texas; and Knoxville, Tenn.