Volume 42, Issue 2 - February 2007
International Aluminum Corp. to be Acquired by Genstar Capital
International Aluminum Corp. of Monterey Park, Calif., parent company of United States Aluminum, entered into a definitive merger agreement to be acquired by an affiliate of San Francisco-based Genstar Capital LLC. The transaction totals approximately $228 million in implied equity value. The Genstar offer of $53 per share in cash represents a premium of approximately 6 percent over International Aluminum’s closing price on January 9, 2007, the last trading day before disclosure of the merger.
The completion of the transaction is expected to occur during the second quarter of 2007. Following completion, International Aluminum’s stock will be de-listed from the New York Stock Exchange and will no longer trade publicly. International Aluminum’s headquarters will remain in Monterey Park.
“We believe International Aluminum is a leader in its industry and we are excited about partnering with the company to continue its growth,” said Darren J. Gold, Genstar Capital managing director. “Genstar has a very successful track record of investing in building products companies like International Aluminum. We hope to leverage this experience to continue the company’s long history of success.” www.intlalum.com
Kawneer Unveils New Corporate Logo and Brand Image
Kawneer Co. Inc. of Norcross, Ga., launched a new corporate logo and brand identity. The company, which celebrated its 100th anniversary in 2006, will replace its traditional blue insignia with a modern “K” depicted in a warm red, designed to symbolize a fresh perspective and the introduction of Kawneer’s next 100 years.
“For more than 100 years, Kawneer has been recognized as an industry leader, an innovator and a valuable partner to architects and glazing contractors,” said Glen Morrison, president. “The new brand identity demonstrates our forward-thinking approach and vision for the next century, while capturing the vigor, the strength and the passion of the company.”
Kawneer officially adopted the new logo in January. www.kawneer.com
Atrium Companies Announces Facility Closing
Dallas-based Atrium Companies Inc., a North American manufacturer of vinyl and aluminum windows and patio doors, recently announced that it is closing its 79,000-square-foot facility in Shelton, Conn. The closing will be completed by March.
All customers serviced out of Shelton will be transitioned to the company’s facility in Welcome, N.C., without disruption, according to the company.
“Market conditions in the Northeast and the capacity for additional volume in North Carolina convinced us that this is the right decision for our company,” said Bob Burns, chief operating officer. “The North Carolina operation can absorb this business and still provide one-week delivery to all customer locations.”
The closing of the Shelton facility will affect approximately 60 employees. www.atrium.com
PPG Industries and Walker Glass Co. Announce Marketing Collaboration
Pittsburgh-based PPG Industries Inc. and Walker Glass Co. Ltd. of Anjou, Quebec, entered into a marketing collaboration to increase the exposure of Textures acid-etched glass and mirror by Walker made with PPG’s Starphire® Ultra-Clear glass.
The collaboration between Walker and PPG translates into several marketing initiatives, including continuous promotion through the Textures sample program; increased visibility at trade shows throughout the year; enhanced website presence; and marketing campaigns that target laminators, temperers and architects.
Truseal Technologies Earns ISO 9001:2000 Re-certification
Truseal Technologies Inc., headquartered in Solon, Ohio, completed its ISO 9001:2000 triennial audit at its Barbourville, Ky., facility.
“The importance we place on adhering to ISO 9001 standards is a testament to our unwavering commitment to quality, customer satisfaction and continuous improvement for every foot of spacer that we produce,” said Lee Burroughs, vice president of manufacturing.
Truseal first became ISO 9001:2000 certified in 2003. This most recent re-certification is valid through 2009. Truseal achieved ISO 9002 certification in 1999. www.truseal.com
Indalex Plans for Year Ahead; Also Closing California Plant
Indalex Holding Corp. of Lincolnshire, Ill., announced it will launch its 2007 manufacturing investment plan during the first quarter of the year. The company plans to invest more than $20 million to acquire and install a new 6,000-ton UBE extrusion press that will be installed during the second quarter of 2008; the acquisition of an advanced Brite Dip operation to be installed at the company’s Modesto, Calif., facility; and the completion of a stream press upgrade at the company’s Burlington, N.C., plant. The last investment will allow a 3,500-ton press previously dedicated only to aluminum coil products to also produce extruded shapes.
Indalex plans to close its Watsonville, Calif., extrusion facility by the end of March or early April. Customers currently served by the Watsonville facility will be serviced from the expanded Modesto plant. The Watsonville plant currently has approximately 99 full-time employees.
“The decision to close the Watsonville facility is unfortunate, but necessary to align our manufacturing capacity and capabilities to the needs of the local market and our customers,” said Tim Stubbs, president and chief executive officer. “It is also management’s goal to treat our Watsonville employees with dignity and respect during this period of transition in their lives.” www.indalex.com
MyGlaverbel Website Redesigned For Easy Access
Belgium-based Glaverbel reworked its website at www.MyGlaverbel.com to make it easier to use as well as more productive for visitors. This site offers, in nine languages, a clear home page, smooth navigation and direct, intuitive access to the company’s range of glass products for the construction industry and interior decoration.
Visitors no longer have to register on the site. Glass wholesalers, architects and others land directly on the home page. They can search various products: by brand, by application, by function or by type of glass. Visitors can find news items and links to new features, and can also subscribe to the “did you know” newsletter, which features information on new products. The site’s “My Glass Toolbox” feature offers: a reference finder; brochure finder; product finder; glass configurator; and calculation programs for glass technicians. www.myglaverbel.com