Norris Cylinder, a subsidiary of TriMas Corporation (TRS), has completed the acquisition of the Huntsville assets of Taylor-Warton International (TWI).
Norris Cylinder instigated a purchase agreement on 30th April 2010 pending approval by the court overseeing TWI’s bankruptcy filing, which was finalised by 9th June 2010.
During the contract, Norris acquired the Huntsville, Alabama facility; a plant which manufactures acetylene cylinders, small and intermediate high-pressure cylinders, as well as speciality cylinders. Jerry Van Auken, President of Norris Cylinder, commented, “This combination positions Norris Cylinder as the premier manufacturer of cylinders for the industrial market, as well as the leading provider of highly-engineered specialty cylinder products.”
“While the synergies between these two businesses are significant, we are most excited about the ability to expand our product offering to our existing customers, as well as bringing new customers to Norris. We are also pleased to welcome the employees of the Huntsville operation into the Norris family.”
David Wathen, President and Chief Executive Officer of parent company, TriMas, stated, “We are pleased to opportunistically purchase these complementary assets through the bankruptcy process which we will integrate immediately into the operations of our Norris Cylinder business.”
“This acquisition, which is consistent with our bolt-on strategy, affords us access to new and expanded products to better service and meets our customers’ needs. Incorporating this business into the TriMas operating model will allow us to leverage the manufacturing capabilities of the Huntsville facility and realize other operating efficiencies.”