Glass Apps Strengthens Market Presence
with Citala Acquisition
Glass Apps LLC, a Culver City,
Calif.-based provider of switchable glass and smart film products produced
by DMDisplay in South Korea, has acquired the production assets of Citala,
an original inventor of switchable film. According to the announcement,
a key component of the acquisition includes Citala’s switchable polymer
dispersed liquid crystal (PDLC) film manufacturing line, one of two in
North and South America.
“Citala’s products were developed using different coating methods and
have unique attributes to other competing products,” says Thomas Lee,
Glass Apps CEO. “This acquisition will give Glass Apps and DMDisplay the
capability to leverage the two leading PDLC technologies in the world
and deliver the widest range of switchable film and smart glass products,
while expanding DMDisplay’s manufacturing capability to the United States.”
Jaewoon Lim, DMDisplay chairman, adds, “This combines leading edge PDLC
smart film technology, developed in Korea, with local U.S. manufacturing
and production for best-of-breed smart glass and film solution delivery.”
Caldwell Acquires Cotswold
Caldwell Hardware (UK) Ltd. acquired Cotswold Architectural Products Ltd.
of Cheltenham, England, and its operable window hardware lines.
“The Cotswold lines will be complementary to the Magnum range of friction
stays already offered by Caldwell’s Advantage Manufacturing division located
in Victor, N.Y., says Caldwell president and CEO Eric Mertz.
The business units will continue to operate as two separate entities.
Quanex Acquires Assets of AtriumVinyl Extrusion Facility
Quanex Building Products Corp. is growing its presence in the vinyl extrusion
market with the recent asset acquisition of Atrium Windows and Doors Inc.’s
Greenville, Texas, facility. The assets purchased include six vinyl extrusion
lines, with the ability for additional expansion, according to the announcement.
Atrium will continue to extrude its own vinyl in its Welcome, N.C., and
St. Thomas, Ontario, Canada (North Star) locations. Atrium will also continue
to self-extrude aluminum in its Wylie, Texas, location. The company also
has entered into a long-term supply agreement with Quanex for continued
supply of its proprietary vinyl extrusion designs from the Greenville,
Tecnoglass to Go Public Under Andina Merger
Andina Acquisition Corp., a U.S. publicly traded NASDAQ acquisition fund,
and Tecnoglass S.A. announced that Tecnoglass will become a public company
under a merger agreement with Andina, “with the current owners of Tecnoglass
retaining majority ownership and control.”
Andina had announced an agreement last August under which the privately-held
Tecnoglass S.A., a Colombia-based glass fabricator, and C.I. Energia Solar
S.A. E.S. Windows, also based in Columbia, which manufactures, distributes
and installs aluminum doors, windows, and curtainwalls (sister companies
under common management, collectively known as Tecnoglass) would become
a subsidiary of Andina. Additionally, Andina projects the company will
achieve revenue of $260.9 million for the year ending December 31, 2014,
adjusted EBITDA of $42.7 million and net income of $16.9 million.
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