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Grey Mountain Wins Bidding War for Dlubak
Grey Mountain Partners, parent company of Consolidated Glass Holdings, purchased the assets of Dlubak Corp., Sept. 23, during a court auction. The private equity firm outbid GGI and Oran Safety Glass Israel for Dlubak, submitting a high offer of $3.25 million, according to court documents.
According to the terms of the purchase, Grey Mountain will also “pay and be responsible for payment of vacation pay owed to employee union members in the approximate amount of $130,000 ... and enter into a threemonth extension of the current collective bargaining agreement with the union.”
“We are very excited to bring Dlubak into the Consolidated Glass Holdings family,” Paul Cody, CEO of Consolidated Glass Holdings, told Glass Magazine. “We believe that their operation and product line fit nicely into our current landscape. Overall, our companies are geared for superior quality, products and customer service. This addition will only advance that effort.”
Wausau Acquires Custom Window
Wausau Window and Wall Systems has acquired the assets of Custom Window Co. The acquisition expands Wausau’s historic renovation product offerings and U.S. geographic reach. Terms of the purchase were not disclosed.
Andina to Buy Tecnoglass
Andina Acquisition Corp. has agreed to buy Top Glass Fabricator Tecnoglass S.A., of Baranquilla, Colombia, in a transaction valued at around $243 million, according to a Wall Street Journal report. The sale is expected to close in the fourth quarter. “Tecnoglass shareholders will continue to own a majority of the company, and this capital will be used to buy new equipment and technology to become more competitive in the market,” Tecnoglass’ Samir Amin Daes told Glass Magazine.
PGT to Build New Glass Plant
PGT Industries will significantly expand its manufacturing operation with the addition of a $12 million to $14 million glass plant located a block north of its main Venice, Fla., campus, according to The Herald-Tribune. The 50,000-square-foot plant is expected to take 10 to 12 months to complete.
Cristol Founder, Ninive Petrocelli, Dies in Boating Accident
Ninive Petrocelli, 39, founder of Cristol Inc., which specializes in architectural glass and mirror installations, died the morning of August 11 when she reportedly fell off the stern of a 45-foot yacht that she and her husband had anchored some two miles northeast of Montauk, N.Y.
Judge Approves Demolition of Harmon Tower
A judge approved CityCenter’s petition to demolish the 26-story Harmon Hotel, according to an article from the LA Times. Construction was completed on the Harmon, one of seven buildings in the Las Vegas CityCenter, but the tower was never occupied due to construction defects and structural concerns.
Consolidated Glass Holdings Opens New Division, Appoints New Management
Consolidated Glass Holdings Inc. announced the formation of its Eastern Division, Architectural Glass Fabrication and Specialty Products. This new division combines the capabilities and resources of Solar Seal in South Easton, Mass.; Insulpane in Hamden, Conn.; and Hawkins in Stafford, Va. Frederic (Rick) Shaw, senior vice president, leads the Eastern Division, while Brian Shaw, vice president of sales, leads sales efforts for the division. Eric Shaw, vice president of operations, leads plant operations.
Shenyang Yuanda to Open Tijuana Location
Curtain-wall company Shenyang Yuanda Aluminium Industry Engineering Co., a subsidiary of Yuanda China, will open a 500,000-square-foot curtainwall fabrication facility in Tijuana, Mexico, according to an industry source. The facility is scheduled to be operational in Spring 2014.
AGC Opens New Fabrication Facility in Atlanta
AGC Glass Company North America announced the grand opening of its new Southeast fabrication facility. Located in Atlanta, the facility will have dedicated insulating glass lines to serve both commercial and residential markets, a CNC machine for heavy glass fabrication, and additional tempering capacity—with oversized tempering capabilities unique to the Southeast region, according to company officials.
CRL Opens New Facility in South Carolina
C.R. Laurence Co. has opened a 110,000-square-foot facility in Rock Hill, S.C., that offers both CRL and U.S. Aluminum products. The new warehouse brings CRL inventories and services closer to customers in South Carolina, North Carolina and Virginia, according to company officials. Steve Jordan and John Adimaro manage the operation.