May 8, 2015
The largest manufacturer of aftermarket imaging systems and components stated that the deal will “combine the entities” of both companies as “there is a lot of advantage in doing so”.
Sanford Herald (subscription) reported on Static Control’s General Counsel Skip London and his comments on the deal The Recycler reported yesterday, which saw Static Control Components sold to Apex in a $63 million (€56 million) cash deal. Representatives from the industry also gave their feedback on the deal, and you can read their views here.
The US news outlet noted that Static Control “employees will notice few operational changes as a result” of the deal, and that the partnership “would allow both companies to take advantage of each other’s expertise in their respective markets”. London commented that Apex has “a great deal of strength in China and not much outside (of China) […] And Static Control is strong in the rest of the world, so we’re going to combine the entities. There is a lot of advantage in doing so”.
In terms of staff and management, “existing management and everything else is going to stay in place”, London added, and “the names will stay the same. They’ll keep their name, we’ll keep our name. There’s a lot of value in the brand Static Control in our industry”. He also told Sanford Herald that Static Control “would be moving the four plants it operates on J R Industrial Road” in the town to its corporate offices on Lee Avenue later in the summer, though this move “had nothing to do with the merger”, and “all jobs at the plant would stay in Sanford”.
Chet Mann, Mayor of Sanford, also spoke to the news site, and said while some residents “might cringe at the idea of a Chinese company buying a Sanford business […] international cooperation was key to economic growth”. He stated that “I think what we’ve learned is that they need our business as much as we need theirs. They are usually very reciprocal and very appreciative of the relationships. The world is a global, competitive place, and I think there are mutually beneficial ways to do business with the Chinese and other countries around the world.
“I think any time that you can open your doors to other opportunities, it’s a good thing. I know from the sister city experience that many cities in South America, Europe and America have sister city relationships [in China]. I think there are more benefits than downsides to those relationships”. Mann also added his belief that the deal “would be a boon for both companies, and that they both were acting in their best interest”.
What’s your point of view on the deal? Let us know in the comments below, or email us at firstname.lastname@example.org.
Categories : World Focus