Established manufacturer of metal wire and engineered mesh will bolster Phifer's impact and deliver synergies in existing and new markets.
TUSCALOOSA, Ala., Dec. 17, 2015 /PRNewswire/ -- Revised from December 10, 2015. Phifer Incorporated announced that it has signed a definitive agreement to acquire the U.S.A. assets of Wire Company Holdings, Inc. currently - Hanover, Pa. ("Wire Company"), a leading supplier of woven mesh to consumer, automotive and industrial filtration markets. The APA transaction is structured as a cash purchase at an undisclosed value and subject to customary closing conditions. Closing is expected by December 18, 2015. Wire Company operations will constitute a stand-alone business unit as a wholly-owned subsidiary of Phifer Incorporated and will do business under another trade name after the transaction is closed. Phifer did not acquire the rights to the New York Wire trade name, trademarks or domain name. Those assets were acquired by Saint-Gobain Adfors America, Inc. several years ago.
The acquisition combines the complementary strengths of two leading companies in the woven filtration mesh industries.
Brad Cork, Phifer President, stated, "We are excited about the addition of Wire Company, a strong organization with dedicated employees positioned in similar markets as Phifer. Phifer is fully committed to support and accelerate our growth and innovation on an international scale both organically and through acquisitions. We believe Wire Company is a perfect fit to meet our objectives."
"Our current plan is for Wire Company's management team and market strategies will remain intact as we work with Phifer to build our businesses. We look forward to sharing and leveraging both companies' experience, expertise and, most important, keeping our commitments to customers during this transition," said Guy Fritz, President & CEO of Wire Company.
Phifer Incorporated, founded in 1952 by J. Reese Phifer, is a family-owned, diversified manufacturer of woven wire, fiberglass and polyester mesh for insect and solar screening, sling and cushion furniture fabrics, drawn metal wire and engineered products used in a variety of industrial applications.
SOURCE Phifer Incorporated
For further information: Gregg Terry, 205-345-2120, [email protected], www.phifer.com, http://www.phifer.com