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[May 2004]
Organizacion Corona Acquires Mansfield Plumbing Products
The shareholders of Organizacion Corona SA, a privately owned Colombian company, have acquired ownership control of Mansfield Plumbing Products LLC (Perrysville, OH, USA). Mansfield will report through Corona's US based business unit, Ceramicorp Inc.
The acquisition of Mansfield is part of Corona's strategy for aggressive global growth in the plumbing products business. Corona is the number one sanitaryware player in Colombia, with brand names such as Corona and Mancesa, and exports 51% of its sales to over 20 countries throughout the Americas. Corona has a long-term strategic interest in Mansfield. The companies say they will focus on maximising the synergies between the US and Colombian operations to expand their combined market share in the Americas and to leverage their manufacturing expertise.
Corona was established in 1935 and manufactures and sells sanitaryware, floor and wall tiles, ceramic electrical insulators, tableware, taps and raw materials for the production of ceramics. It also has two retail chains: one specialising in ceramic coverings, kitchen and bath; and a joint venture with the Chilean retailer Sodimac in the area of DIY.
Mansfield, established in 1929, is one of the largest producers of plumbing products, with over 4 million pieces sold annually throughout North America. It employs more than 750 people and has domestic manufacturing distribution centres in Perrysville and Big Prairie (both Ohio, USA), Henderson, TX, USA and Fontana, CA, USA.
ENDS