Kirchner and Company, Inc. acted as M&A Advisor and Agent to ECI.
Boisbriand, Quebec, 2 July 2008 – ECI President, Gary Whittaker, announced today that his company has sold its energy business to a company owned by Hubbell Power Systems (HPS) of Columbia, S. Carolina.
The sale includes its plant in St Jerome, QC and all equipment, trademarks and patents associated with its HV bushing business and its LV epoxy molding products. Employees of Electro Composites Inc, ECI’s energy subsidiary, have transferred to the new company, Electro Composites 2008 U.L.C. HPS intends to maintain and grow operations in Quebec and will expand sales of ECI solid cast insulation through the ECI sales force and its own extensive sales network.
ECI will continue to operate its defence products business from its remaining plants in St Janvier and Drummondville, both near Montreal, Qc. ECI’s subsidiary, ACM Composites Inc, is not affected and will continue offering custom molded thermo-set products to its customers in the energy, defence and transport sectors.