Ruskin will manufacture the vent and control dampers, but these products will continue to be marketed, sold, and distributed by Johnson Controls. Ruskin also will take over the manufacturing and marketing of the economizer dampers, which now will be sold under the Ruskin brand name.
By March 2003, the parties expect that the manufacturing of both product lines will be transferred to existing Ruskin manufacturing facilities.
“This acquisition provides us with additional product to sell into the commercial market and also gives us access to a wider global customer base,” said Jim Nicol, chief executive of Tomkins.
“This is a strategic move on our part to strengthen our ability to provide dampers and airflow systems to our customers worldwide,” said Dale Lueck, vice president of Systems Products for the Controls Group of Johnson Controls. “As a result of this transaction, we could achieve greater cost containment and double-digit growth in dampers over the next few years, plus we’re better able to service our customers through the broader product line Ruskin offers.”
Publication date: 09/30/2002