MALVERN, PENNSYLVANIA, December 23, 2016 - Potters Industries, LLC, a leading producer of engineered glass products used in transportation safety, metal finishing, oil and gas and polymer additives, has entered into an agreement to acquire Sovitec Mondial S.A., a high quality producer of engineered glass products used in transportation safety, metal finishing and polymer additives.
"This transaction will enable both Potters and Sovitec to offer a more comprehensive, cost-effective and high-quality portfolio of products and services to our customers worldwide," said Robert C. Mulhall, President of Potters.
Added Orm Verberne, President and CEO of Sovitec: "Potters and Sovitec each have a passion of making a difference through product quality and service. Becoming part of Potters is an important step for the company's development. We are very excited about the future and look forward adding a new chapter to our 62-year history."
The transaction is subject to regulatory approval and is expected to close in the first quarter of 2017.
About Potters: Based in Malvern, Pennsylvania, Potters is a leading producer of engineered glass products used in transportation safety, metal finishing and polymer additives, and operates 25 facilities world-wide. For more information visit www.pottersbeads.com.
About Sovitec: Sovitec Mondial, based in Fleurus, Belgium, is a high quality producer of engineered glass products used in transportation safety, metal finishing and polymer additives. Sovitec operates facilities in Belgium, Spain, Germany, France and Argentina. For more information, visit www.sovitec.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Potters Industries, LLC
J. Grande communications Inc.
Sovitec Mondial S.A.
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