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.

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


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Mohawk Garnet
    North American Hard Rock Garnet

    A complete range of quality garnet from two new processing plants. Serving both the abrasive blasting and water jet markets.
    Call 1.866.642.7638
    Email for follow up – mheilimo@mohawkgarnet.com


    EDCO - Equipment Development Co. Inc.
    American Manufacturing

    Is coming back, is more competitive, and is higher
    in quality. Well EDCO never left, we never lost our competitiveness, and we
    have always maintained
    our high level of quality.
    Call 800-638-3326 or visit
    us @ edcoinc.com


    BASF
    New resins from BASF will have metals loving water:

    Excellent corrosion resistance, low VOC, high gloss, thin films basf.us/industrialcoatings
    polyorders@basf.com
    800-231-7868


    CHLOR*RID International Inc.
    Free Webinar

    Learn about soluble salts, along with a discussion on allowable levels.
    More information at
    www.chlor-rid.com,

    800-422-3217


    Harsco
    BLACK BEAUTY® App

    Download the free app for BLACK BEAUTY® Abrasives. Explore all the features from the palm of your hand.
    Toll Free: 1-888-733-3646

  •  
     
     
    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