Server: Microsoft-IIS/3.0 Date: Thu, 20 Nov 1997 19:01:02 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Thu, 09 Oct 1997 09:16:42 GMT Content-Length: 1852
Florence, Alabama (February 2, 1996) Martin Industries, Inc. (Nasdaq/NM:MTIN) today announced that it completed the acquisition of Hunter Energy and Technologies Inc. of Orillia, Ontario, Canada. Hunter is a privately owned manufacturer of gas space heaters and pre-engineered gas fireplaces with annualized sales of approximately $15 million (Canadian).
"The acquisition of Hunter Energy will expand Martin's distribution channels into Canada," stated James D. Wilson, president and chief executive officer of Martin Industries. "We believe Hunter's operations are very complementary to Martin, adding both capacity in our core heating business and broadening our product line with innovative technology.
"We are very excited to combine Hunter with our organization and hope to expand our mutual product lines in both Canada and the U.S. We have the opportunity to manufacture certain Martin products at Hunter's facilities to increase the depth of their product line while extending Martin's distribution base. In addition, we plan to adopt some of Hunter's innovative gas heating technology in certain Martin products," concluded Mr. Wilson.
Martin Industries manufactures and sells gas and solid fuel heaters, gas logs, pre-engineered fireplaces, metal file cabinets and desks, do-it-yourself utility trailer kits and premium gas barbecue grills.