LP to acquire coating manufacturer
Louisiana-Pacific Corporation has scooped up the coatings manufacturer that produces the fire retardant coating used in LP FlameBlock products.
The company has agreed to acquire Watkins, Minn.-based International Barrier Technology Inc. (Barrier) for $22 million, and for 100% of the shares of Barrier, a British Columbia company publicly traded on the TSX Venture Exchange.
This would make Barrier a wholly owned subsidiary of LP as the demand for fire-resistance in residential and commercial buildings increases.
“We are confident that this acquisition will help accelerate our growth into new markets,” LP CEO Brad Southern said.
“Over the last seven years we have validated the market acceptance of the FlameBlock brand and demonstrated strong sales growth,” Southern noted. “Flame retardant products are a key development target of our Growth and Innovation plans.”
“We believe our fire resistant technology is in great hands with an innovative company like LP,” said Barrier CEO Mike Huddy.
The acquisition is expected to close by the end of this year.
Zelazny ends his long run at General Pipe Cleaners
After 40 years of company service, Andy Zelazny – national sales manager for General Pipe Cleaners, a division of General Wire Spring – announced his retirement at the end of September.
Named National Sales Manager in 2001 after his predecessor, Bob Gelman, passed away, Andy helped fuel General’s growth by developing a strong, knowledgeable sales rep force – and by forging a company-wide commitment to training efforts. He joined General as a customer service representative in 1977.
“On behalf of the Silverman family, we thank Andy for his years of quality service to General, and his valued contribution to the growth of the company,” Global Sales Manager David Silverman said. “We wish him all the best – and many years of happy, healthy retirement with his family and grandchildren.”
Assistant Sales Manager Dave Dunbar, a 20-year veteran of General, will succeed Andy as National Sales Manager in October.
General Pipe Cleaners, a division of General Wire Spring Co., is a leading manufacturer American-made drain cleaning equipment. In business since 1930, the third-generation family-owned company is celebrating over 85 years of service to drain cleaning professionals and plumbing contractors, as well as facilities managers, the rental industry and the hardware/DIY market.