PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


Freeworld Coatings to Acquire Napier

Monday, July 20, 2009

Comment | More

Freeworld Coatings Global has exercised its option to acquire the North American operations of Napier Environmental Technologies Inc. (www.napiere.com) of Vancouver, Canada, Napier has announced.

Napier will cease manufacturing its product lines, which include prep, coating removal and wood restoration products for the industrial, commercial and retail markets.

The deal’s closing had been delayed by regulatory approvals, which have now been obtained. As a result of this delay, the companies’ so-called NAFTA Option Agreement has been renegotiated to include an additional $1.125 million goodwill payment to Napier.

In addition, Freeworld will pay Napier approximately $605,000 ($55,000 for production machinery and $550,000 for inventory), subject to the actual value of inventory at closing, for a total of about $1.73 million.

Napier has received $602,000 in payment so far; the balance will be paid on July 31, 2009, when the deal is scheduled to close.

   

Tagged categories: Acquisitions

Comment Join the Conversation:

Sign in to our community to add your comments.

SSPC: The Society for Protective Coatings
http://www.sspc.org/

Join SSPC and Enhance
Your Career !


AGC Chemicals
LUMIFLON®FEVE Resin Used On Vibrant Red Bridge

LUMIFLON based coatings can last up to 30 years without fading, offering a low-maintenance solution that retains color and gloss and can be field-applied.


U.S. Zinc
Logistics. Rely On U.S.

Whether via rail, truck, sea or air, you can trust our logistics services to deliver the product you need on time, every time.


Atlantic Design, Inc.
ENGINEERING SOLUTIONS, NOT EXCUSES

See our website for features of our best seller, the ADI 3500CFM 4-Pot Blast Vacuum Recycler. A smaller package with all the ADI power you need. 866.Call.ADI


Julbert, Inc.
Built from the ground up.

Dust Collectors Available!
We deliver to your Jobsite!
Built Tough! Priced Right!
PH: 208-437-2100 customerservice@julbertinc.com


WINOA Group
W Abrasives : Bullets for cost killers

WA COST is the right solution for cost killers who want to reduce their blasting costs. Visit us during the GIFA (Hall15 - D14).


Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Truss bridge treated in 2000 with Termarust's (HR CSA) field-proven rust mitigation system chemically stopped corrosion, crevice corrosion & pack rust.


Axxiom Manufacturing
The Undisputed
Industry Leader.

Proven Innovation. Job Performance. Industry Training. Workplace Safety. Only Schmidt® abrasive blast equipment by Axxiom Manufacturing delivers it all!


Midsun Specialty Products
Stopaq 30+ Year Coatings

Use Stopaq corrosion prevention coatings on pipelines, field joints, tank chimes, structural steel and more. Learn more at www.midsunsp.com/stopaq

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com