Commercial Vehicle Group Completes Sale of FinishTEK Business to Rowmark LLC
01 Février 2024 - 3:00PM
Commercial Vehicle Group (CVG) (NASDAQ: CVGI), a global leader in
the design and manufacturing of electrical systems, vehicle
components and accessories, plastic products and robotic
assemblies, today announced that it has sold its FinishTEK business
to Rowmark LLC, effective January 31, 2024.
Based in Dalton, Ga., FinishTEK, is a hydrographic and paint
decorator with 95,000 square feet of specialized manufacturing
and warehouse space and 30 employees. FinishTEK was part of CVG’s
Vehicle Solutions segment serving Tier 1 suppliers and OEM
manufacturers in a wide variety of industries, including
powersports, heavy-duty truck, appliance, automotive, turf,
construction, and agriculture. Rowmark, based in Findlay, Ohio, is
a leading manufacturer of engravable sheet plastic for the awards,
engraving and signage markets.
James Ray, President and CEO of CVG, stated, “As part of our
strategy to drive revenue growth, primarily in our electrical
systems business and improve our margins, we continually evaluate
our portfolio of businesses and product lines for strategic fit and
continued investment. This is a positive transaction for both
companies and continues to optimize CVG’s portfolio toward its core
growth businesses.”
CVG and Rowmark are committed to a smooth transition for our
customers, suppliers, and the employees. The terms of the agreement
were not disclosed.
About FinishTEK
FinishTEK was founded in 1993 as Daltek Inc. It was acquired by
Commercial Vehicle Group in 2012 and renamed FinishTEK. FinishTEK
is a hydrographic and paint decorator specializing in plastics
decorating and finishing. It offers customers a wide variety of
cost-effective finishes in hydrographics, paint, and UV hard
coating.
About CVG
At CVG, we deliver real solutions to complex design, engineering
and manufacturing problems while creating positive change for our
customers, industries, and communities we serve. Information about
CVG and its products is available at www.cvgrp.com.
Investor Relations Contact:Ross Collins or Stephen PoeAlpha IR
GroupCVGI@alpha-ir.com
Media Contact:Patrick WoolfordDirector,
CommunicationsPatrick.Woolford@cvgrp.com
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