Adams Rite Manufacturing Co. Acquires Three New York-Based Companies: Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc.Business Editors POMONA, Calif.--(BUSINESS WIRE)--Feb. 11, 2002 New Company to Offer Broader Range of Door and Door Hardware Solutions to Its Customers Adams Rite Manufacturing Co., a leading, privately held manufacturer of doors and door hardware products, today announced the acquisition of Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc. These acquisitions will increase the revenues of Adams Rite by 30 percent and further expand the company's product lines and distribution channels, offering its customers additional top quality products backed by its industry leading customer service. Terms of the acquisitions were not disclosed. "These acquisitions help fulfill our vision to provide our customers with a comprehensive line of products to meet their needs," said Dick Kreidel, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Adams Rite Manufacturing Co. "A key factor in the decision to acquire these companies is that we share a similar corporate culture and philosophy for quality products and industry leading customer service. An immediate result of the completion of this acquisition is the emergence of Markar Architectural Products Inc., a new company blending Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc. into one entity." Markar Architectural Products will operate as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Adams Rite Manufacturing Co. Kevin Hamilton, former president of the acquired companies, will become president of the newly formed subsidiary, reporting to Kreidel. The new company will maintain its current sites of operations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The holder of many patents for doors and hinges Hinges may refer to:
Kreidel added: "With both Kevin Hamilton and Stan Tatara remaining in key strategic positions following the completion of the acquisitions, the new company will benefit from their continued leadership. And, with the return of Stan Tatara to his first love, product design and development, we expect to gain further momentum in the development of innovative products for our customers." "We are excited to be joining the family of Adams Rite Manufacturing Co.," said Hamilton, president of Markar Architectural Products. "With the breadth of the product lines of these three companies along with those of Adams Rite, we will serve the needs of a greater number of customers, blending several strong independent brands into a much stronger company." As a result of the acquisition by Adams Rite, Markar Architectural Products will increase its worldwide market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" by leveraging Adams Rite's strong international distribution channel. In addition, the new company will benefit from Adams Rite's market presence throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Adams Rite will enjoy the strong ties of the acquired companies to the contract hardware market segment. Background on Acquired Companies Markar Products Based in Lancaster, N.Y., Markar Products is a manufacturer of continuous hinges and continuous edge guards for use in commercial, industrial and institutional settings. Founded in 1969, the company was the first to manufacture an adjustable continuous hinge hinge n. A jointed or flexible device that allows the turning or pivoting of a part, such as a door or lid, on a stationary frame. hinge see hinge joint. and an adjustable continuous edge guard. To reduce wear and tear to the frame and door, Markar's continuous hinges distribute shock forces applied to doors and are suited for use in entrances of highly trafficked buildings where strength, security, dependability and durability are requirements. Extrudart Products Founded more than 45 years ago, Extrudart Products is also located in Lancaster, N.Y. Extrudart's fiberglass reinforced polyester polyester, synthetic fiber, produced by the polymerization of the product formed when an alcohol and organic acid react. The outstanding characteristic of polyesters is their ability to resist wrinkling and to spring back into shape when creased. (FRP FRP Fremskrittspartiet (Norwegian: Progress Party; political party) FRP Fiberglass-Reinforced Plastic FRP Fiber Reinforced Polymer FRP Fibre Reinforced Polymer FRP Fleet Response Plan (US Navy) ) doors are the only adjustable doors in the marketplace designed to permit installation up to 3/8-inch width adjustment for aluminum doors and up to 3/4-inch for stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. doors. The FRP doors feature its AdjustaScrew Hinging System and adjustable Lock Edge Fastening System for easy installations in buildings that are subject to the daily rugged abuse of everyday traffic. Rockford Products Based in Orchard Park Orchard Park may refer to the following locations in: Erie County, New York:
About Adams Rite Adams Rite Manufacturing Co. designs, manufactures and markets architectural hardware and doors, as well as vehicular operator controls for off-highway construction and agricultural equipment and on-highway vehicles such as trucks and buses. Recognized as a leading worldwide supplier of security hardware for aluminum doors, its Architectural Hardware Group is the premier manufacturer of The Rite Door(R), locks, electric strikes, exit devices and other door hardware products. Its Vehicle Controls Group, Quadrastat Corp., is one of the largest suppliers of operator controls to original equipment manufacturers. The origins of Adams Rite Manufacturing Co. date back more than 100 years, making it one of the most successful, privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area. The company's worldwide headquarters are located in Pomona, with wholly owned subsidiaries in the United Kingdom and Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . Additional information about Adams Rite Manufacturing Co. can be found on the company's Web site at www.adamsrite.com or about Quadrastat at www.quadrastat.com. |
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