 |
 |
||||||
[April 2006]
Resco Acquires Worldwide Refractories
Resco Products Inc (Pittsburgh, PA, USA) has acquired all the outstanding shares of Worldwide Refractories Inc (Tarentum, PA, USA). Worldwide Refractories manufactures dolomitic brick and monolithics which are used to line steel ladle, speciality steel process vessels such as AODs and burning zones in cement kilns.
William Brown, President and CEO of Resco, said: "The acquisition of Worldwide Refractories is both complementary and synergistic for Resco who will now become the only refractory company in North America able to offer these key customer groups a full line of basic and high alumina refractory brick and monolithic products that are manufactured in the U.S. and Canada.
"Worldwide Refractories has a reputation for quality products, strong technical support and a culture of responding quickly to customers' needs and expectations. Resco will build on Worldwide's success and expects there to be no disruption to Worldwide's current stakeholders through the integration process."
Dennis McCort, President of Worldwide, commented: "Worldwide is pleased that it could finalize this transaction with Resco as there is a clear strategic fit between the two companies. Resco's commitment to continue the operations of Worldwide's Tarentum plant will have a positive impact on Worldwide's customers, vendors and employees".
Resco is a privately owned company with plants in the USA, Canada and the UK.
ENDS