Polyurethane millwork maker Style Solutions Inc. of Archbold, Ohio, has acquired competitor Fypon Ltd. of Seven Valleys, Pa.
Terms of the Nov. 12 transaction were not disclosed.
Privately held Style Solutions will take the Fypon name, spokeswoman Kathy Ziprik said in a Nov. 15 telephone interview. The two companies will be combined effective Feb. 22. Under the new Fypon name, the company could make more acquisitions.
``Fypon has the same name recognition in our industry as Coca-Cola does in the soft drink industry or Kleenex in the tissue market,'' Dave Goulette, Style Solutions vice president and general manager, said in a news release.
The new company will be run by Style Solutions President Charlene Crooks and Goulette, whose title will be vice president and general manager of Fypon. Tom Latourette will continue as vice president of sales.
As for what will happen with current Fypon management, Ziprik said, ``We're not sure yet. It's all under evaluation right now.'' According to Fypon's Web site, however, Leonard Boesger is president and chief executive officer; and Robert Wood is executive vice president and chief financial officer.
The marriage could mean a consolidation or expansion of facilities, Ziprik said. Style Solutions has manufacturing sites in Archbold and China. Fypon has one plant in Seven Valleys and another in Stewartstown, Pa.; and a distribution center in Hunt Valley, Md.
``We have to find out what's going to be the best solution for our customers,'' she said. ``It's just happening right now; we'll have a better answer on that in the coming weeks.''
In 2001, Fypon claimed 40 percent of the market for PU building trim. Officials said then that it processed 5 million pounds per year, or about 3,000 pieces a day.
Ziprik would not disclose the number of employees at Style Solutions; Fypon has several hundred.