Solutia to Acquire Southwall Technologies
for Approx. $113 Million
Solutia is set to acquire glass and film products company
Southwall Technologies for an “aggregate equity purchase price of about
$113 million” according to the company.
“This acquisition positions Solutia as the world leader in advanced sputtering
technology, combining the industry’s leading commercial expertise with
next-generation innovation capabilities to provide advanced film solutions
to the premium window film and electronics markets,” says Jeffry N. Quinn,
chief executive officer?(CEO). “Our growth strategy remains focused on
enhancing our portfolio through synergistic bolt-on acquisitions that
allow Solutia to better serve high-growth markets and support the success
of our existing businesses. This is just one component of our strategy
to put our strong cash flow to work to create value for our shareholders.”
Solutia will gain Southwall’s XIR® Technology, used in VKool films,
and all of the company’s manufacturing capabilities for window film production.
Solutia also will now be offering a new product where film is “encapsulated
between Saflex® polyvinyl butyral interlayers to form a protective
barrier in laminated glass against the harmful effects of the sun.”
Solutia has announced that Southwall stockholders will receive $13.60/share
in cash for all outstanding shares of Southwall common stock tendered
in the offer.
“We look forward to realizing the potential of Southwall’s portfolio of
energy efficiency solutions as we combine our innovation in sputtering
technology with Solutia’s commercial and market expertise,” says Dennis
Capovilla, CEO of Southwall Technologies. “Together we will focus on the
delivery of next-generation films to our customers that achieve unmatched
levels of solar performance and optical clarity.”
Kawneer Working to Repair Flood-Ravaged Bloomsburg Plant
The Bloomsburg, Pa., manufacturing facility of Norcross, Ga.-based Kawneer
Co., was among the victims of significant flooding after Hurricane Irene
barreled up the East Coast, August 27-29.
In a letter to customers dated September 13, Bob Leyland, director of
sales, declared force majeure and informed that the plant had temporarily
closed for repairs. The facility employs 400 people and manufactures commercial
windows and storefronts, says Mike Belwood, director of media and corporate
relations for Kawneer parent company Alcoa.
Shipments from the plant will be affected by the shut-down. “… At a minimum,
the shipments scheduled for September and October will be delayed,” according
to the letter.
“They are scheduling orders placed now to be delivered in December,” says
Don Chapman, manager of United Plate Glass in Sunbury, Pa. “Usually the
turnaround time is no more than four weeks.”
“We are working very closely with our customers and communicating regularly
with them about the situation,” says Belwood.
“We’re in recovery mode.”
Kawneer and the Alcoa Foundation awarded a $35,000 grant to the American
Red Cross chapter in Bloomsburg, Pa., to aid local victims of the flooding.
PPG to Open Glass Fabrication Plant in Barrie, Ontario
PPG Industries’ flat glass business has announced that it will begin operation
in January 2012 of an 80,000-square-foot plant in Barrie, Ontario, that
will provide 20 full-time jobs in glass cutting, fabrication of insulating
glass units and distribution.
The new site replaces a facility near Toronto in North York, Ontario.
“The Barrie plant will provide better access to our customers and enable
us to operate more efficiently,” says Frank Caporiccio, general manager
for PPG’s flat glass trade products in Canada.
The plant will occupy part of the 300,000-square-foot former Bemis Manufacturing
facility at 200 Fairview Road in Barrie. The plant will begin operation
in January 2012.
New SAF-West CA Facility to Serve Asian Market
Huber Street Properties’ (HSP) recent purchase of a facility for Southern
Aluminum Finishing (SAF)-West in Redding, Calif., will help SAF to serve
Asia in a more timely manner, says James McClatchey, vice president of
SAF. HSP is a closely related entity to SAF.
“As far as commercial construction is concerned, China is the strongest
market,” McClatchey says. “The new location will make our delivery time
faster to Asia, as that market develops further.”
SAF-West serves Western U.S., Canada and Pacific Rim markets with architectural
aluminum distribution, fabrication and finishing services.
HSP is owned by the four McClatchey brothers, says Penn McClatchey, vice
president of SAF. “It owns all the McClatchey properties. It’s a four-way
partnership, and SAF is owned by three brothers. A North Valley bank foreclosed
on the Redding property and Huber bought it.”
The Redding facility currently doesn’t anodize, Penn McClatchey says.
“It’s a 20,000-square-foot facility, and we distribute and have a sheet
metal fabricating facility,” he says. “We will add an anodizing line and
occupy an additional 50,000 square feet. We will also employ another 50
people in the next few years.” The new line is expected to run next summer,
and have a capacity of 6 million pounds a year or 6 million square feet
HSP also plans to upgrade the building to attract new tenants for the
facilities not operated by SAF. “Ideally we’ll find tenants that would
be suppliers or customers,” Penn McClatchey says. “An example of an ideal
tenant would be an extruder who can supply our extrusions. This could
further improve our delivery times, especially on large orders.”
“We want to be the fastest provider of every product that we market, and
want to be the technology leader in the industry,” James McClatchey says.
“The secret to our success is diversification across geography and market.”
ATI Test Lab Acquires HTL
York, Pa.-based Architectural Testing Inc.’s (ATI) purchase of the assets
of Riviera Beach, Fla.-based Hurricane Test Laboratory (HTL) brings all
of HTL’s customer testing under one roof, says Vinu Abraham, former chief
executive officer of HTL. Following the acquisition, Abraham now serves
as the vice president, Southeast Region, for ATI.
The HTL board sold the assets of the company to ATI in late September.
ATI first approached HTL about purchasing its customer list and equipment
exactly two years ago, says Henry Taylor, president of ATI. “Subsequently,
both companies began to realize the benefits of a merger, and discussions
were renewed about six months ago.”
Through the transaction, HTL now has access to more test service capabilities
and ATI’s strong technology base, Abraham says. “Prior to the merger we
were primarily an air water structural and blast facility,” he says. “ATI
also does thermal, acoustic, forensic and field testing. And HTL clients
routinely have a need for some of those services. I’d say 50 percent of
HTL clients already had a relationship with ATI.”
HTL has three facilities in Texas, Georgia and Florida, and ATI has 12
facilities across the country. The acquisition gives ATI a larger footprint
in the Florida market, Taylor says. “We also gain a new testing facility
in the Atlanta area,” he says. “The addition of the Lubbock, Texas, area
is particularly valuable as an ‘arena blast facility’ that expands our
blast testing outside the laboratory environment.”
No major “defections” are expected due to the expanded nature of other
ATI services that can now be handled and administered through the HTL
locations, Taylor says. “Nothing of any major consequence will be changed
for the HTL clients.”
In total, the 15 facilities employ about 300 employees, Abraham says.
“At the present time, the HTL staff will remain with ATI but with some
changes in responsibilities as a result of duplication,” Taylor says.
“Functions such as marketing, accounting and some administrative services
will be consolidated in time as necessary. Likely we will be hiring employees
to develop a strong field testing service in these new markets and we
will be expanding the building sciences disciplines, particularly in building
Trulite Glass & Aluminum to Distribute TGP Fire-Rated Product
Trulite Glass & Aluminum Solutions of Tamarac, Fla., has partnered
with Technical Glass Products (TGP) of Snoqualmie, Wash., to distribute
the FireLite family of fire-rated glass ceramic products throughout its
distribution network. The new partnership is designed to provide quick
access to a broader range of fire-rated glazing solutions.
“FireLite is one of the most recognized brands in fire-rated glass, and
is an important part of our comprehensive glazing offerings,” says Ben
Thomas, director of strategic marketing for Trulite. “We’re excited to
work with TGP to bring FireLite to more markets across the U.S.”
Hartung Glass Industries Acquires Personal Touch Glass
Hartung Glass Industries in Seattle has acquired Personal Touch Glass
(PTG), a Lodi, Calif., subsidiary of Glasswerks L.A. Inc. Specializing
in fast lead times for commercial and residential insulating glass units,
Personal Touch Glass will operate as part of Hartung effective immediately.
Terms of the transaction were not disclosed.
“Since a majority of PTG’s products have less than a three-day lead time,
the addition of Personal Touch Glass will complement our existing lines
and tremendously enhance our ability to better serve the region,” says
Nick Sciola, Hartung president and owner. “The addition of PTG is very
exciting as the company has a highly experienced and talented in-place
management team, skilled workforce and an existing fleet of trucks delivering
to customers throughout northern California and Nevada.”
The Personal Touch acquisition, Hartung’s third in 20 months, advances
the company’s mission of controlled growth and to increase its presence
on the West Coast.
Sage Architectural Products LLC in Austin, Texas, will serve the
state’s central and southern region as manufacturer’s representative for
Tubelite Inc. in Walker, Mich. Sage owners Todd and Kim Joubert
share nearly 30 years of industry experience...
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