Jason Industries Inc., Milwaukee, WI, (Nasdaq:JASN) (Nasdaq:JASNW), parent company to a global family of manufacturers in the seating, finishing, automotive acoustics and components markets, has acquired DRONCO GmbH, a European manufacturer of abrasives, for approximately €32 million (US$34.9 million) in cash and €10 million (US$10.9 million) of assumed liabilities.
With €40 million (US$43.6 million) in annual revenue, DRONCO will be integrated into Jason's finishing segment, enhancing its position as a surface technology and finishing solutions provider.
"Through this acquisition we simultaneously enter a market that is undergoing a steady rise in worldwide demand, further globalize our finishing business, and are presented with substantial opportunities for future growth," said David Westgate, CEO.
