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Casco Products Acquires Schoeller & Co., German Automotive Products Supplier

23 June 1999

Casco Products Acquires Schoeller & Co., German Automotive Products Supplier

    BRIDGEPORT, Conn.--June 22, 1999--Casco Products Corporation, a subsidiary of Sequa Corporation, has completed the purchase of Frankfurt, Germany-based Schoeller & Co. GmbH, a supplier of automotive cigarette lighters, power outlets and other automotive products. Terms of the transaction are not being disclosed.
    The addition of Schoeller represents a continuation of Casco Products' multi-year program to further its presence in key international markets and build on its position among global car companies as a reliable source of high quality automotive products. Earlier, Casco Products acquired a cigarette lighter operation in Italy and added a production facility in Brazil. The newly acquired unit, which will be known as Casco Schoeller GmbH, operates from a 100,000 square foot facility in Frankfurt, Germany. The site will also house Casco's European technical center, adding a critical element of customer support and product enhancement.
    In the United States, Casco Products operates two manufacturing facilities -- one in Bridgeport, Connecticut, and another in Morgantown, Kentucky -- and maintains a customer service office in suburban Detroit, Michigan. Casco manufacturing facilities have earned product quality designations, including QS 9000, AVS Q and Ford Q1. The Bridgeport plant has also achieved certification under ISO 14000, and the company is working toward certification of all other plants under this international continuous improvement standard. Sequa Corporation is a diversified, technology-driven manufacturer whose operations cross a wide range of markets. In addition to the automotive products provided by Casco Products, Sequa's other operations include the repair and manufacture of components for jet engines; the production of rocket propellant and gas generators for missiles and space applications; the supply of chemicals for laundry detergents and industrial bleaching processes; the manufacture of machinery for two-piece can forming and decorating; the coating of metal coil for building products and other uses; the manufacture of auxiliary printing equipment and industrial dryers; and the manufacture of men's formalwear.