PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

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.

Keizer Technologies, Inc.
Fast • Safe • Clean • Silent

The innovative RPR Induction Disbonder, the world’s fastest, safest, cleanest and very cost effective method for removing paint and coatings from steel surfaces.


Polyval Coatings
POLYFLEX brand Polyurea

high chemical resistant membranes are used extensively to protect our environment in secondary containment applications.


Safway Services
Suspended Access Made Easy With QuikDeck™

The smart choice for suspended access, QuikDeck’s interchangeable, lightweight components make them easy to set up and reassemble when you need to move.


Van Air Systems
The Blast Pak

Van Air Systems' portable desiccant air dryer. Get dry compressed air with this All-In-One blasting and coating solution.


Dampney Co., Inc.
High Temperature Paint

• Prevent Rust / Corrosion
• High Build / Hot Apply
• Custom Colors / VOC-Compliant
• Offshore/Petro Chem/ Refining/Power Industries
• Over 90 Years of Experience


Clemco Industries Corp.
Powerful Protection in a Small Package

Mounts inside blast helmet, alerts operator to dangerous breathing-air condition by audible, visual, and vibratory alarms. Easily calibrated, battery operated.


GMA Garnet USA
GMA Garnet™
Natural Abrasives

- Superior cleaning
  performance
- Even Profile
- Low Dust
- Cost-Effective
- Environmentally friendly
- Recyclable up to 5 times
Tel : +1 832 243 9300

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2014, 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