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[May 2007]
Unifrax Announces Acquisition Deal
Unifrax I LLC (Niagra Falls, NY, USA), the manufacturer of ceramic fibre insulation products, has announced that it has entered into an agreement with Union Lesni Brana a.s. to acquire the ceramic fibre business of that company's wholly owned subsidiary company Keraunion. Terms of the transaction were not disclosed.
Keraunion is located in Dubi which is near Prague in the Czech Republic. It is the leading supplier of ceramic fibre products in the Czech Republic and also does a substantial amount of export business in the EU. The business has approximately 100 employees who will be joining the Unifrax European team.
Unifrax Corporation is a leading global supplier of insulation products that are used in many high temperature industrial, automotive and fire protection applications. The company has 13 manufacturing facilities in the USA, Europe, Asia and Latin America and employs approximately 1,200 people world-wide.
David Brooks, Unifrax President and CEO, said: “Keraunion is a Company with a great reputation, a proud heritage and excellent people. In addition to its strong market position in the Czech Republic, the business has excellent manufacturing and fabrication capabilities. It is also well located to support our growth initiatives in the Eastern European region.
“This acquisition represents another positive step in the continued implementation of the long-term growth strategy for our Company."
The acquisition is expected to close at the end of May. Unifrax is owned by the international private equity investment firm AEA Investors LLC and Unifrax management.
www.unifrax.com
ENDS