APRIL 13, 2009
contact:
Carlene F. Moloney, Moloney International Ltd
Telephone: 814.226.8032 ext.1253
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FOR IMMEDIATE RELEASE
CLARION BOARDS ANNOUNCES NEW OWNERSHIP AND INVESTMENT
Tony Sturrus named President, Clarion Industries
Jose Kofman named President, Clarion Boards
New capital infusion provides expansion and growth opportunities for industrial panels business
Shippenville, PA. – April 13, 2009 - - A private equity group, led by the Fairbanks family, announced today it has completed, with ATC Panels, the purchase of Tarkett’s equity share in their joint venture. Tarkett will continue to have Clarion Industries as a preferred and strategic partner for the supply of laminate flooring products in North America.
The new joint venture includes all the assets of Clarion Boards, Inc., manufacturer of high quality Medium Density Fiberboard (MDF) and High Density Fiberboard (HDF) and Clarion Laminates, LLC, manufacturer of premium laminate flooring products. The infusion of new capital into Clarion Industries has strengthened the ability of the organization to support its current operations and to pursue new business opportunities. The manufacturing facilities of Clarion Industries are located in Shippenville, Pa.
Juan Obach, Chairman of Clarion Industries, has announced that former Pergo, Inc. President and CEO, Tony Sturrus, has been appointed President of Clarion Industries, and Jose Kofman has been appointed President of Clarion Boards.
“Jose has been with Clarion Boards since its inception and he has strong relationships in the industry. He has a wealth of panel manufacturing and operations knowledge. We are very excited that Tony Sturrus will lead the organization. The combination of Tony Sturrus and Jose Kofman will provide extraordinary business and industry leadership,” said Obach.
“We are delighted that the Fairbanks family and its new partners are invested in this joint venture. Clarion Industries is committed to providing the North American market with high quality, MDF and HDF products along with the most innovative, cost efficient, and best in class quality laminate flooring. This new investment and ownership solidifies Clarion Boards position in the industrial panels industry and affords new growth opportunities for the business,” said Obach.
Clarion Industries will continue to operate its corporate headquarters office out of Shippenville, Pa 19254.
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