Aalberts Industries NV has reached an agreement with the management of Conbraco Industries, Inc.. to acquire 100% of the shares. Conbraco Industries in the United States is a leading manufacturer of a complete portfolio of bronze, brass, steel and stainless steel valves and a range of check valves which are mainly sold in the commercial, industrial and consumer (retail market) under the strong brand name “APOLLO ®” Valves . The acquisition will take effect after all the formalities and approvals for the acquisition completed, expected mid July 2010.
Conbraco Industries, “APOLLO ®” Valves is a major supplier in the North American market in terms of ball, safety and relief valves, check valves, filters and a new proprietary range of stainless steel and cast valves for fire protection and commercial market . In addition, the company has a strong position in the industrial market in the United States produced steel and stainless steel valves. Through a separate business unit Conbraco Industries offers different ranges and a complete service for the consumer (retail market).
With more than 1,000 employees Conbraco Industries generates annual sales of approximately $ 200 million.Conbraco Industries has three production sites in South Carolina: Pageland in two and one in Conway.Headquartered in Matthews, North Carolina.
Conbraco Industries was founded in 1928 by Clarence Mosack, grandfather of the current generation. The family Mosack has led the company for three generations. The director of Conbraco Industries, Glenn Mosack, and his management team will remain connected to the company and are highly motivated to join the Aalberts Industries Flow Control business market opportunities within the United States and Europe to develop.
Based on three strong brands, “APOLLO ®” Valves, Elkhart Products ‘EPC ® (Elkhart Brass) metallic fitting range and the LASCO® Fittings’ plastic fittings and other products, Aalberts Industries FlowControl can realize a more complete offering for the residential, commercial and consumer markets and the fire protection and industrial markets in North America. The specification, sales and distribution channels of these three organizations will create an enhanced and focused marketing approach for each market segment deliver.
The “APOLLO ®” Valves range consists of many products, which can also can also be sold through the existing sales and distribution network in Europe, where Aalberts Industries is present its own sales presence. In particular, the safety and relief valves, check valves and check valves for commercial buildings is an expansion of its product in Europe.
Conbraco Industries’ product for the industrial sector will open more new markets in Europe. There are many opportunities for cross-selling, which can be jointly developed and will strengthen our market position in Europe.The experience, management and marketing approach of Conbraco Industries ‘special business unit’ Consumer Markets offers good opportunities because the introduction of European ranges and concepts through existing channels in the United States.