|
|
Article: Genmar Announces the Spin-Off of Its VEC Technology Business Into Stand-Alone Company.
- Article from:
- PR Newswire
- Article date:
- February 10, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MINNEAPOLIS, Minnesota, February 10 /PRNewswire/ -- Genmar Holdings, Inc. (Genmar) announced today the successful spin-off of its VEC Technology business into a new stand-alone entity. The newly created company's official name is VEC Technology, L.L.C. (VEC LLC).
Based upon the completed transaction, the new company's value approximates $350 million. VEC LLC will be owned and operated as a stand-alone company with several strategic investors and partners.
Interplastic Corporation (Interplastic), a St. Paul based leading manufacturer of polyesters resins, vinyl ester resins, gel coats and molding compounds, and a national distributor of all composite ...