U.S. competitor buys Kitchener furniture products plantU.S. competitor buys Kitchener furniture products plantU.S. competitor buys Kitchener furniture products plant

by:DIgao     2020-08-08
KITCHENER —
A factory of American kitchen furniture products has been sold. S. -
Based on another owner.
CompX Waterloo, a former Waterloo furniture product, was acquired by Knape & Vogt in Grand Rapids, Michigan.
From CompX International Inc.
For $59 million in Dallas, Texas.
The sale also includes CompX\'s Dynaslide division in Taiwan.
Together, the two factories formed the company\'s furniture components division, with sales of $46.
9 People 4 million
End of month period.
CompX said at a press conference.
CompX Waterloo factory, located in a 300,000-square-
Dr. Manitou\'s foot plant on 501, makes ball-
Bearing sliders for office furniture and appliances, as well as ergonomic workstation products such as adjustable keyboard platforms.
The acquisition will enable Knape & Vogt to \"reach new customers and markets and expand its business\" in its channels for office equipment manufacturers, chief executive Peter Martin, said at a press conference.
CompX Waterloo employs about 300 employees, including 200 union workers.
Chairman of the united Iron and Steel Workers Association, the factory has 7155 local people.
He said the workers first heard about Wednesday\'s sales and held a meeting with the new management on Thursday.
Graham said Friday that it is too early to judge whether there will be many changes in the factory.
\"They will look at some of our processes . . . . . . They know our products because they are our competitors.
Graham said workers were surprised and worried about the change in ownership because the number of jobs had dropped from a high of about 1,000 a decade ago.
A few years ago, the company implemented
First-level wage structure and temporary workSharing Plan
But recently \"strong in some areas,\" says Graham, CompX moved its work from a plant in Michigan to kidina two years ago. About one-
Graham said the third employee has been in the company for more than 25 years and he has served for more than 31 years.
\"Our labor force is aging,\" he said . \"
\"A lot of people want to stay until they retire.
The company started in the medium term.
Waterloo metal stamping parts 1950.
Chowitt @ township enterprises. comKITCHENER —
A factory of American kitchen furniture products has been sold. S. -
Based on another owner.
CompX Waterloo, a former Waterloo furniture product, was acquired by Knape & Vogt in Grand Rapids, Michigan.
From CompX International Inc.
For $59 million in Dallas, Texas.
The sale also includes CompX\'s Dynaslide division in Taiwan.
Together, the two factories formed the company\'s furniture components division, with sales of $46.
9 People 4 million
End of month period.
CompX said at a press conference.
CompX Waterloo factory, located in a 300,000-square-
Dr. Manitou\'s foot plant on 501, makes ball-
Bearing sliders for office furniture and appliances, as well as ergonomic workstation products such as adjustable keyboard platforms.
The acquisition will enable Knape & Vogt to \"reach new customers and markets and expand its business\" in its channels for office equipment manufacturers, chief executive Peter Martin, said at a press conference.
CompX Waterloo employs about 300 employees, including 200 union workers.
Chairman of the united Iron and Steel Workers Association, the factory has 7155 local people.
He said the workers first heard about Wednesday\'s sales and held a meeting with the new management on Thursday.
Graham said Friday that it is too early to judge whether there will be many changes in the factory.
\"They will look at some of our processes . . . . . . They know our products because they are our competitors.
Graham said workers were surprised and worried about the change in ownership because the number of jobs had dropped from a high of about 1,000 a decade ago.
A few years ago, the company implemented
First-level wage structure and temporary workSharing Plan
But recently \"strong in some areas,\" says Graham, CompX moved its work from a plant in Michigan to kidina two years ago. About one-
Graham said the third employee has been in the company for more than 25 years and he has served for more than 31 years.
\"Our labor force is aging,\" he said . \"
\"A lot of people want to stay until they retire.
The company started in the medium term.
Waterloo metal stamping parts 1950.
Chowitt @ township enterprises. comKITCHENER —
A factory of American kitchen furniture products has been sold. S. -
Based on another owner.
CompX Waterloo, a former Waterloo furniture product, was acquired by Knape & Vogt in Grand Rapids, Michigan.
From CompX International Inc.
For $59 million in Dallas, Texas.
The sale also includes CompX\'s Dynaslide division in Taiwan.
Together, the two factories formed the company\'s furniture components division, with sales of $46.
9 People 4 million
End of month period.
CompX said at a press conference.
CompX Waterloo factory, located in a 300,000-square-
Dr. Manitou\'s foot plant on 501, makes ball-
Bearing sliders for office furniture and appliances, as well as ergonomic workstation products such as adjustable keyboard platforms.
The acquisition will enable Knape & Vogt to \"reach new customers and markets and expand its business\" in its channels for office equipment manufacturers, chief executive Peter Martin, said at a press conference.
CompX Waterloo employs about 300 employees, including 200 union workers.
Chairman of the united Iron and Steel Workers Association, the factory has 7155 local people.
He said the workers first heard about Wednesday\'s sales and held a meeting with the new management on Thursday.
Graham said Friday that it is too early to judge whether there will be many changes in the factory.
\"They will look at some of our processes . . . . . . They know our products because they are our competitors.
Graham said workers were surprised and worried about the change in ownership because the number of jobs had dropped from a high of about 1,000 a decade ago.
A few years ago, the company implemented
First-level wage structure and temporary workSharing Plan
But recently \"strong in some areas,\" says Graham, CompX moved its work from a plant in Michigan to kidina two years ago. About one-
Graham said the third employee has been in the company for more than 25 years and he has served for more than 31 years.
\"Our labor force is aging,\" he said . \"
\"A lot of people want to stay until they retire.
The company started in the medium term.
Waterloo metal stamping parts 1950.
Chowitt @ township enterprises.
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