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[March 2005]
Two US Refractory Brick Companies Acquired
Refractory and Industrial Supply Group Inc - a subsidiary of Diversified Thermal Solutions (Memphis, TN, USA) - has announced the acquisition effective 31 January 2005 of two refractory brick manufacturing facilities, as well as a state-of-the-art machine and die operation located in Pennsylvania. The two brick companies are Freeport Brick Co (Freeport, PA, USA) and Kittanning Brick Co (Kittanning, PA, USA). The purchase price was undisclosed and secured through traditional bank financing.
John Curry of Diversified Thermal Solutions said: "We are excited to complete this strategically important acquisition, which furthers our goal of becoming a service driven provider of quality refractory brick. The refractory manufacturing facilities will provide Refractory and Industrial Supply Group Inc with a complete line of clay and high alumina brick used in the aluminum, cement and lime, iron and steel and all other pyro-processing industries.
"Consisting of over 250,000 square feet, the combination of Freeport and Kittanning Brick Companies will give us one of the largest production capacities in North America. We will initially focus on improving plant efficiencies, quality, and brand awareness as we work to secure private labeling opportunities and expand our distribution network."
www.diversifiedthermalsolutions.com
ENDS