Jan. 16, 2008: Nomaco K-Flex Separates Joint Venture
“Recognizing that the partnering companies have different long-term strategies in the marketplace, we realized the need to separate our businesses going forward,” explained Scott Edwards, former president of Nomaco K-Flex and current president of Nomaco Insulation.
K-Flex USA will manufacture elastomeric products and serve North American markets with the brands K-Flex LS and InsulTube. Giuseppe Guarino, former chief financial officer of Nomaco K-Flex, is now president of the new K-Flex USA.
Nomaco Insulation will continue as a separate entity, providing polyolefin products to the North American market through the brands: Nomaco, Imcoa, and therma-cel. Nomaco Insulation will also continue to sell the elastomeric brand FlexTherm, manufactured by K-Flex USA, to its current buy/sell channel.
Both companies anticipate future growth as they move forward with different areas of focus. K-Flex USA will concentrate on increasing the use of elastomeric products throughout the commercial insulation market.
“We see enormous opportunities for growth ahead as we focus solely on elastomeric insulation,” said Guarino.
At the same time, Nomaco Insulation will be dedicating resources to develop new polyolefin insulation products for plumbing and hot/cold water applications.
“With 100 percent of Nomaco Insulation’s research and development efforts dedicated to creating the next generation of polyolefin products, we are excited about our future growth potential,” said Edwards.
The dissolution of the joint venture will not affect operations of the companies. While under a different name, K-Flex USA will continue to be headquartered in the existing elastomeric manufacturing facility in Youngsville, N.C. Nomaco Insulation will be based in Wake Forest, N.C, with products produced in manufacturing facilities located in North Carolina and Oklahoma.
For more information, visit www.nomacokflex.com.
Publication date: 01/14/2008