Volume 45, Issue 10 - October 2010

NewsNow

Silverstein Announces Asset Purchase of SMI Aluminum Systems in Florida

SMI Aluminum Systems LLC, led by Leon Silverstein, former chief executive officer (CEO) of Arch Aluminum & Glass, has announced the purchase of SMI Systems in Medley, Fla. The transaction was completed on September 17, 2010, through an asset purchase agreement between the two parties. The prior SMI management team and all of their employees will remain as employees of the new company, led by Jim Pande, who has been owner of SMI for the past eight years.

Joining Silverstein as partners in the acquisition are his brother, Richard Silverstein, and Manny Valladares; both held key positions at Arch, as chief operating officer and director of product development, respectively.

SMI Systems is a manufacturer of high-performance storefront entrances and window walls created to meet high design pressures for blast and hurricane protection. “The existing product line at SMI is a perfect start to creating a broad product line to meet the needs of the glazing contractor,” says Richard Silverstein.

Leon Silverstein told USGlass magazine in an exclusive interview that the company will focus on selling products in Southeast Florida “and the coastal areas where hurricane systems are in demand.” The company currently has about 55 employees and occupies 63,000 square feet of manufacturing space.

“The new company will now benefit from the years of knowledge and expertise that the new group brings to the table in the form of purchasing, product enhancements, manufacturing and selling strategy,” adds Pande.

The new SMI already is active in developing new products and services to fill the gaps in its product line.
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