On April 20, 2001, Reinhold Industries, purchased Edler Industries for $2.6 million, consisting of $1.6 million cash paid at closing and a $1.0 million note due in September 2001.
Edler Industries, Inc., located in Newport Beach, California, is a manufacturer of structural and ablative composite components mainly for subcontractors of the U.S. defense industry. The acquisition is expected to add approximately $2.4 million of sales in 2001 and $4.4 million in 2002. After a short transition period, production will be transferred to Reinhold’s facilities in Santa Fe Springs. The operation will be renamed the “”Thermal Insulation”” division of Reinhold.
“”We are very excited to add Edler Industries to the Reinhold family”” said Michael T. Furry, president and CEO of Reinhold. “”We will continue to fully support Edler’s customer base with the same level of quality and service that they have built over the past 50 years.””
Reinhold Industries, Inc. is a manufacturer of advanced custom composite components, sheet molding compounds and rubber rollers for a variety of applications in the United States and Europe.
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