MECALUX executed its purchase agreement, its call option on the companies UFC Interlake Holding Co., United Fixtures Company, Inc., Interlake Material Handling, Inc. and Conco-Tellus Inc. for a value of 30 million dollars, financed completely with equity. Among the assets that were acquired are the plants at Pontiac (Illinois), and Sumter (South Carolina) and the group’s Mexican subsidiaries, owners of the plants at Mexicali and Matamoros. With this purchase, MECALUX also acquired the commercial network and all industrial properties. The American division of MECALUX changed its company name to INTERLAKE MECALUX.
According to United States’ legislation (Section 363 of the Bankruptcy Code), as no other firm bids had been presented to buy these assets and MECALUX was the sole bidder, a public tender was not required and the Court adjudicated it to MECALUX.
MECALUX has positioned itself as the potential leader of the American market
For MECALUX this is a market opportunity that means growing its presence in the United States of America and Mexico, markets in which MECALUX is enhancing its future expansion.
It should be noted that UFC Interlake Holding Co. has historically been the leading company in the US market in terms of turnover and technology. With this opportunity, MECALUX acquired the client base of UFC Interlake Holding Co. which includes the largest companies in the United States, helping MECALUX to develop in the American market and provide these clients with the best possible services in the rest of the international markets. Among these clients are WAL-MART, HOME DEPOT and TOYOTA. Moreover, a line of business is also included with these assets covering automated warehouse implementation and services.
Incorporating 4 plants with cutting edge technology
The 4 plants that MECALUX bought in the American market are technologically highly advanced, with a capacity to produce the most comprehensive range of storage systems in the American market, added to MECALUX’s current range. These plants have cutting edge technology and great production flexibility, capable of meeting all clients’ needs. These 4 plants were added to the 2 operational plants MECALUX already had in the region (Chicago and Mexico). MECALUX therefore now owns 6 plants in production in this market, thereby effectively covering the whole American and Mexican territory.
Acquisition of all INTERLAKE’s patents, trademarks and technology
Part of the industrial assets bought by MECALUX are all the patents and trademarks, as well as all the technology required to continue developing the product base of UFC Interlake Holding Co. The leading brand in the Canadian market, REDIRACK, has also been acquired, currently licensed under royalty to the leading storage system firm in Canada. When market conditions improve, INTERLAKE MECALUX plans to develop significantly in the United States and Mexico, both in terms of sales volume in storage systems as well as in new technology divisions to offer automated warehouses and software throughout the American market.
With the group’s future development, the American market will be one of the largest and will balance the group’s positioning, with expected future sales being 50% in Europe and 50% in the United States of America.
MECALUX now owns 12 plants in total
With this operation, the MECALUX group has gone from its previous figure of 8 production plants to now 12 factories in total, becoming one of the world’s leaders in capacity and technology dedicated to the storage industry.