Industry News

Industrialex Manufacturing Corp. Announces the Agreement to Acquire the Customers and the Management of Compass Industrial Coating, Inc.

Published on 2008-06-24. Author : SpecialChem

ARVADA, COLORADO -- Industrialex Manufacturing Corp., a leading provider of industrial coating services, has announced that it has acquired the customers and the management of Compass Industrial Coatings, Inc. of Colorado Springs, Colorado effective June 18, 2008. Established in 2003, Compass Industrial Coatings, Inc. provided coating services (powder, liquid, EMI/RFI and printing) to various customers in Colorado. Compass, a privately held company, had sales of (un-audited) approximately $1.4M in 2007. The terms of the transaction were not disclosed.

In making the announcement, Mr. Ahmad Akrami, Industrialex's Chairman & CEO, stated, "This transaction represents the continuation of our consolidation strategy. We are indeed so honored to have Compass's outstanding management together with Compass's prestigious customer base. We will apply our best resources to service such a great set of clients every day, every week, every month, year-after-year." In addition, Mr. Robert (Rob) Ripper, Compass's founder and President, stated, "By joining the Industrialex's team, we will be in a much stronger position to service our outstanding customers. The culture of Industrialex together with their outstanding facility, infrastructure and capabilities will be extremely effective to service our customers with their current and future requirements."

About Industrialex:

Headquartered in Arvada, Colorado, Industrialex is a leading provider of industrial coating services to a broad range of manufacturers. The Company operates plants in Arvada and Colorado Springs.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.

Source: Industrialex Manufacturing Corp.

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