CINCINNATI - The parent of Evendale, OH-based Formica says the laminate panel maker will acquire all of the shares in Homapal Plattenwerk, a German manufacturer and distributor of metal and specialty laminates, for $39 million (€30 million, NZ$48 million).
Formica has been a 50-percent shareholder – and the largest customer – of Homopal since 1983. The transaction is scheduled to be completed on 2 April, 2012.
Separately, Formica added distribution of Vivix, its dual-sided laminate panel for exterior building facades, to the U.K. market.
Formica, which is a global manufacturer and distributor of laminate panel, is a unit of Fletcher Building Limited, based in Auckland, New Zealand. Fletcher also owns Laminex, which serves Australia and New Zealand.
In August 2010 Formica Corp. relocated global headquarters to Evendale, OH, when it named Mitch Quint president of the North American business. Formica Corporation president and CEO Mark Adamson and CFO Leigh Box relocated to Evendale at the same time.
At the same time, Gerry Bollman was named VP business development, and Jack Gary was named VP supply chain.
Formica Brand Laminate, Formica Solid Surfacing, Formica Veneer Premium Wood Surfacing and DecoMetal. Formica Group has more than 3,200 employees in 11 manufacturing and 27 distribution facilities across Asia, Europe and North America.
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