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.

Novetas Solutions
Number 1 Crushed Glass Abrasive in America!

6 NEW plants coast to coast! Safe for environment, 100% recycled glass. White Metal Finish! No unsafe toxins like Beryllium & Arsenic!
Call 866-775-6226


Tinker & Rasor
Holiday Detectors Made in the USA

When it comes to coating inspection, get the right instrument for the job. Tinker & Rasor pulse –type DC holiday detectors come standard with the widest voltage range available, 800 volts to 35,000 volts in one instrument.


Montipower, Inc.
The MBX Bristle Blaster

Get a 2.7 to 3.3 mil profile and a Near White Metal Clean. For info visit www.mbxit.com or call 877 629-8777


PreTox Products - NexTec, Inc.
GOT LEAD? Specify Pretox System products

The ONLY Lead Stabilizer Compatible with All Paint Removal Methods. Works with all Blast Media: Grits | Recyclable Abrasives | CO2 | Water | Power Tools | Etc. Call Dave Steffen at 800.338.8296.


Corrosion Probe, Inc.
From Detection to Correction

Corrosion Probe, Inc. has the Most Concrete Coatings Experience and Expertise. Contact us today at
860-767-4402, www.cpiengineering.com


Harsco
Find BLACK BEAUTY® Abrasives

Use our online tool to search by address, city or zip code to find where you can buy BLACK BEAUTY® abrasives. Or call us toll free: 1-888-733-3646


Fischer Technology Inc.
MP0R with rotating display screen

View your coating thickness readings from any angle with rotating display screen. New graphic display with easy menu navigation. Click for Video
Call 800-243-8417


HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com


US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.

 
 
 
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