LUXFER ACQUIRES REVERE
12 September 2007
LUXFER GROUP NEWS
LUXFER AGREES TO ACQUIRE REVERE
MANCHESTER: 12th September 2007: Luxfer Group today announced that they had reached agreement to acquire the assets and business of Revere Graphics Worldwide.
Revere specialises in the manufacture and supply of a broad range of photo engraving materials, including magnesium, copper, zinc, and brass, and etching chemicals. The “Revere” name, which reflects a long company history dating back to the ownership of the founding company by Paul Revere in the 18th century, is recognised worldwide as the top brand in photoengraving materials. Revere operates from two plants: Plymouth, Mass and St Helens in the UK.
Luxfer’s existing Magnesium Elektron North America (MENA) magnesium sheet and plate business produces magnesium photoengraving sheet at its two plants in Madison, Illinois and Findlay, Ohio. By combining the two businesses Luxfer will extend its position in the photoengraving market by broadening its product range. The acquisition also offers the opportunity for significant operating synergies and reductions in working capital by supplying the required high quality magnesium slab to the Revere operations from Luxfer’s rolling mill in Madison.
Brian Purves, CEO of Luxfer, commented: “The Revere business is complementary to our existing MENA operation and offers Luxfer’s Magnesium Division the chance to broaden its product offering in an attractive niche market.”
Enquiries to: Julie Garth
Phone: 0161 911 8815