US GreenFiber has acquired two components of Blue Sky Manufacturing Inc., a cellulose-insulation company in East St. Louis, Ill. The official signing of the deal is Jan. 11, 2006.
The acquisition provides GreenFiber, a Charlotte-based insulation supplier, with additional manufacturing capacity and extends its distribution reach in the Midwest.
Financial terms of the deal weren't disclosed.
According to Geoff Grootenboer, with Blue Sky, the acquisition includes the cellulose manufacturing facility, as well as the bin program for the company. The collection component includes drop-off containers at churches and schools in the area.
"The additional capacity will be used to grow our Midwest business with both existing and new customers, and ensures our commitment to customer service," says Dennis Barrineau, president of US GreenFiber.
“This acquisition supports our long-term strategic growth plans by giving us additional manufacturing and distribution capacity in the Midwest. The additional capacity will be used to grow our Midwest business with both existing and new customers and ensures our commitment to customer service,” Barrineau, added.
With the acquisition of Blue Sky Manufacturing, GreenFiber now has a total of 13 manufacturing plants. Twelve of the 13 are insulation plants located in Albany, N.Y., Charlotte, N.C., Delphos, Ohio, Denver, Colo., East St. Louis, Ill., Elkwood, Va., Lithia Springs, Ga., Norfolk, Neb., Phoenix, Ariz., Sacramento, Calif., Tampa, Fla. and Waco, Texas. The thirteenth plant, a Scott’s Patch Master Plant, is located in Elkwood, Va.
Grootenboer says that GreenFiber will be expanding production capacity at the plant, with the goal of producing 1 million 30 pound bags of cellulose insulation. Another step in the process will be for GreenFiber to expand its operation to market more of its material to large retailers such as Home Depot and Lowe’s.
GreenFiber also has invested around $1.4 million to boost capacity at the East St. Louis plant.
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