Greenheck Agrees to Purchase The AIROLITE Company
Greenheck, the world’s leading manufacturer of air movement and control products, became one of the largest suppliers of architectural louvers in the U.S. after company officials signed an Asset Purchase Agreement with The AIROLITE Company. AIROLITE, founded in 1919, is a national manufacturer of architectural louvers, grilles and sun control products, headquartered in Marietta, Ohio. These products are typically incorporated into the exterior facade of large commercial and institutional buildings.
Under the agreement, which takes effect on August 1, 2004, AIROLITE sales, marketing and engineering support will remain in Marietta. AIROLITE products will continue to be marketed through AIROLITE's existing national sales network of over 70 architectural representatives. All manufacturing of AIROLITE products will take place in one of Greenheck's three strategically located manufacturing facilities in Schofield, Wisconsin; Frankfort, Kentucky; and Sacramento, California.
"AIROLITE products have enjoyed an outstanding reputation among architects for many years, and we are delighted to be able to help carry on that tradition by supporting this distinguished brand," said Dwight Davis, president and CEO of Greenheck. "We believe our stability and competitive strengths will help the AIROLITE brand retain its rightful place of prominence in architectural specifications."
Leight Murray, current president and grandson of the founder of AIROLITE, will continue his efforts to grow and expand the AIROLITE sales. Murray stated, "I am delighted that AIROLITE now has a dynamic partner that will help our organization continue to design and deliver high value products to the architectural market. I look forward with great confidence to the exciting new opportunities this acquisition creates for all of us who have worked so hard to build and preserve the AIROLITE tradition. When you combine Greenheck's competitive strengths with the talent and commitment of our experienced AIROLITE employees, I believe we are extremely well positioned for future success."
AIROLITE products will continue to be marketed under the AIROLITE brand name to architects, according to Davis, and Greenheck brand louvers will continue to be marketed to mechanical engineers through Greenheck’s nationwide network of manufacturing representatives. The AIROLITE product line is expected to be expanded as a result of the purchase.
With annual sales exceeding $250 million, Greenheck is the leading worldwide manufacturer of a wide range of air movement and control equipment for commercial and institutional buildings. The company, which began operations in 1947, employs over 1,600 at its headquarters in Schofield, Wisconsin, its four manufacturing locations and its twelve distribution centers across the country and around the world.
To obtain more information about this Greenheck announcement you may: