Press Release: New Merger Creates a Leading Force in the US Stucco Market
Richard Hung, Marketing Communication Manager
714.778.2266 x3270
richard.hung@parexusa.com
FOR IMMEDIATE RELEASE:
New Merger Creates a Leading Force in the US Stucco Market
Anaheim, CA — January 01, 2005 - On January 1, 2005, Parex Incorporated (GA), LaHabra Products Incorporated (CA) and El Rey Stucco Co. (NM) are merging to form ParexLahabra, Inc. a California corporation based in Anaheim.
ParexLahabra Inc. becomes the leading force in the US stucco market with strong equity in its brands: Parex, LaHabra, El Rey Stucco and Surewall. Each brand will develop its own marketing strategy, taking advantage of market-specific opportunities to strengthen the core product lines.
Launched by the group in 2003, Davco - a full product line of thin-set mortars, tile adhesives and color grouts - will benefit from the nationwide network of manufacturing plants and the centralized corporate structure.
Francois Bouan, President and CEO of the new organization, has been successfully leading the three companies owned by Materis.
"The creation of ParexLahabra Inc. sustains our pursuit for growth through internal developments and acquisitions; it optimizes the synergies between the three companies and facilitates the exchange of our best practices and expertise" says Bouan.
"As merged companies, our professional expertise will be reinforced. With common research and development, our capacity to develop new products and to better service our customer needs are enhanced. Other powerful benefits such as six manufacturing locations across the country, improved access to raw material supplies, and extended customer service will bring more value to the relationship with our business partners".
In 2005, the company will have completed the Iso 9000 certification for all its locations. This will ensure consistent quality and availability of finished goods to the construction industry.
"Internal developments, geographical expansions and acquisitions will support our goal to become the established leader in the façade market and a recognized challenger in tile adhesives, mortars and grout products.
Our foundation is strong; our commitment to improvement, innovation and quality is shared throughout the group. We look forward to an exciting future as we become ParexLahabra Inc."
About Parex USA
Parex USA, Inc., a California Corporation, is the parent company to brands that offer a wide range of innovative façade and flooring solutions. Its brands include Parex, LaHabra Stucco, Merkrete, Teifs, El Rey Stucco, Merlex Stucco, Variance Finishes, and Vero-Rialto. It is a subsidiary of the ParexGroup, S.A., one of the world's leading manufacturers of specialty solutions for the construction industry. ParexGroup spans 22 countries, employing 4,000 professionals across 66 manufacturing facilities and 9 R&D centers. To learn more about Parex USA, Inc., please visit www.parexusa.com.
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