30 October 2003
30 October 2003
Spaulding Composites, Inc. was officially formed on Wednesday following Metapoint Partners, L.P.'s acquisition of the assets and properties of the Laminate Division of Spaulding Composites Company, Inc.
Metapoint Partners, L.P. is a private investment firm based in Peabody, MA.
The New Spaulding Composites will consist of the manufacturing and fabrication operations that are located in Rochester, NH and DeKalb, IL. All laminate technology, manufacturing equipment, tools and molds, trademarks, trade secrets, and technical expertise will be transferred to the new company. In addition, the management, sales, technical and manufacturing personnel associated with this division will also be part of the New Spaulding Composites.
The assets of the New Jersey-based Mykroy/Mycalex Division were sold in a separate transaction to a different investment group.
""Our industry is currently experiencing some significant changes, and it's more important than ever that manufacturers not only receive a quality product, but also have confidence in the stability and reliability of their composite vendor,"" says Sylvio Theriault, president of the New Spaulding Composites. ""The New Spaulding Composites is stable and well-capitalized. This financial security enables us to continue our long-standing tradition of providing superior customer service, and the highest-quality materials and fabricated components.""
The New Spaulding Composites expects to continue being one of the leading North American suppliers of engineered composite materials and components.