Mr. Shower Door Purchases G.M. Ketcham Company Name
Mr. Shower Door Inc. of Norwalk, Conn., has purchased the G. M. Ketcham Company name, customer list and all rights to extrude Ketcham parts in order to create the exact Ketcham shower door.
“One of the unique aspects of the Ketcham acquisition was the fit,” said Tom Whitaker, president of Mr. Shower Door. “The venture capital group that was selling Ketcham approached [our company] knowing that we are already in the same high-end market that Ketcham served, and didn’t realize the value we saw in helping Mr. Shower Door accelerate its long term goals of further penetration in the New York market and select national dealers as well.”
Whitaker said the Ketcham product line will be a solid addition to Mr. Shower Door’s Luxus line of shower doors. He also said they will continue to provide the same level of quality and service Ketcham customers expect.
Applied Materials to Buy Applied Films for $464 million
Applied Materials Inc. announced it will buy manufacturing equipment maker Applied Films Corp. in a deal valued at $464 million.
Under terms of the deal, Applied Materials, the Santa Clara, Calif.-based semiconductor equipment maker, is paying $28.50 a share, or $464 million. Excluding Applied Films’ cash, Applied Materials said it is paying $303 million.
Speaking during a conference call to discuss the deal, Applied Materials chief executive Michael Splinter said the acquisition gives his company an additional market of more than $1 billion over the next several years, and will speed development of new products.
Applied Films, based in Boulder, Colo., makes equipment used for the manufacturing of flat-panel, solar cells, flexible electronics and energy-efficient glass.
Separately, Applied Films said it lost $800,000, or 5 cents a share, on revenue of $62 million in the fiscal third quarter that ended April 1, 2006.
Adjusted earnings were 13 cents a share, down from 26 cents a share.
In the same period a year earlier, it earned $2.9 million, or 19 cents a share, on revenue of $44.9 million. Analysts were expecting earnings of 9 cents a share, according to Thomson Financial.
Just prior to the acquisition, Applied Films had opened an office in Indonesia with the goal of improving its presence and customer service in southeast Asia.
© Copyright 2006 Key Communications Inc. All rights reserved.
No reproduction of any type
without expressed written permission.