MIDDLEBURY, Conn., Aug. 8 /PRNewswire-FirstCall/ -- Katy Industries, Inc. (NYSE: KT) today announced that it has completed the acquisition of substantially all of the assets of Washington International Non-Wovens, LLC ('WIN'), based in Washington, GA. This transaction is an important step in the return of Katy's Abrasives business unit (operating under the Glit- Microtron and Loren names) to a leading position in the non-woven abrasives market.
'The WIN acquisition provides us with a high quality and relatively new
production line that will give us more operational flexibility,' said
'A key aspect of this acquisition is the return of certain lost customers
as well as the ability to gain new ones,' commented Anthony T. Castor III,
Katy's President and Chief Executive Officer. 'In addition, we will be
bringing talented and experienced manufacturing personnel to our Abrasives
team,' remarked
This press release may contain various forward-looking statements. The forward-looking statements are based on the beliefs of Katy's management, as well as assumptions made by, and information currently available to, the company's management. Additionally, the forward-looking statements are based on Katy's current expectations and projections about future events and trends affecting the financial condition of its business. The forward-looking statements are subject to risks and uncertainties, detailed from time to time in Katy's filings with the SEC, that may lead to results that differ materially from those expressed in any forward-looking statement made by the company or on its behalf. Katy undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Katy Industries, Inc. is a diversified corporation with interests primarily in Maintenance Products and Electrical Products.
Company contact:
Katy Industries, Inc.
Amir Rosenthal
(203) 598-0397
SOURCE Katy Industries, Inc.
