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


Ames Tools Completes Chapter 11 Reorganization

Tuesday, March 30, 2010

Comment | More

Ames Taping Tools, a major manufacturer of automatic taping and finishing tools, announced the completion of a financial restructuring and emergence from Chapter 11 bankruptcy proceedings.

Peter Alexander, the company's chief restructuring advisor, said the restructuring has allowed Ames to emerge with a "stronger balance sheet, enhanced liquidity, and a streamlined cost structure.

"Our company faced unprecedented challenges with the residential and commercial construction decline since 2006," Alexander said. "The New Ames will continue its heritage of product innovation and close customer relationships, while working to create new product lines and cost-effective solutions for the drywall industry."

Ames, owned by Axia Acquisition Corp. and based in Atlanta, is a manufacturer, marketer, and distributor of automatic taping and finishing tools used by residential and commercial interior drywall contractors for drywall joints prior to painting, wallpapering, or other forms of final treatment. Ames says it invented the tools, and operates an extensive tool-rental and sales business. The company was founded more than 70 years ago in California.

The company's principal business is the rental and service of its fleet of tools through a network of company-managed stores, franchised locations, and rental stations in the U.S. and Canada. The stores also sell branded hand-finishing drywall tools, supplies, and accessories. The company also sells tools under the TapeTech® brand through independent distributors and dealers.

Ames also said it has appointed a new board of directors, composed of individuals with "a wide range of skills and background." The board members are William T. Allen, chairman, CEO, and president of Werner Company; David Gilchrist, president and CEO of Robert Family Holdings; Steven Kunkel, managing director of AEG Partners; Christopher S. Brothers, managing director of Saybrook Capital; Philip Raygorodetsky, senior managing partner of GSC Group; Mark C. Hardy, partner of Aurora Capital Group; and Alexander, a turnaround consultant and former CEO of ORCO Construction Supply.

 

   

Tagged categories: Ames Taping Tools; Bankruptcy; Equipment manufacturers

Comment Join the Conversation:

Sign in to our community to add your comments.

Atlantic Design, Inc.
OUR INDUSTRY IS CHANGING!

We should know. We’re the ones leading the way. Cleverly simple. Clearly ADI. 866.Call.ADI


ITW Binks
Built for Tough Jobs

From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.


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


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


Mohawk Garnet
Enska by Mohawk Garnet™

A safe, efficient and economical abrasive alternative to slag and sand products. More information
at 1.866.642.7638 or info@mohawkgarnet.com Email for follow up – mheilimo@mohawkgarnet.com


Polygon
POLYGON - Temporary Humidity Control

We specialize in innovative climate control solutions for industrial painting, utilizing alternative energy sources and combining desiccants with heating or cooling.


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

 
 
 
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