Roto Acquires FASCO to Expand North American PresenceJune 6th, 2012 | Category: Industry News
Two hardware suppliers have now joined force as Roto AG, the parent company of Roto Frank of America Inc. announced the acquisition of Fasco Die Cast Inc., a Canadian-based manufacturer of window and patio door hardware. The new subsidiary is Roto Fasco Canada Inc.
Roto Fasco Canada will continue to operate out of its headquarters and manufacturing facilities located in Mississauga, Ontario. The company produces patio door handles, sash locks, casement parts, sliding door hardware, custom zinc die-castings and other related items.
“This targeted acquisition in Canada is testimony to Roto’s international growth strategy, strengthens our presence and significance in North America, and serves as a base for continued growth,” says to Dr. Eckhard Keill, chairman of Roto AG’s executive board.
He adds that despite the slow recovery for the construction industry as a whole, Roto AG decided the time was right for this acquisition as it has posted some healthy increases.
“Although the pronounced real estate market crisis in North America generated a market decrease from 2008 to 2011 of approximately 30 percent, Roto Frank of America increased its business by approximately 40 percent and gained significant market share. Even though the market has been slow to recover, Roto Frank of America projects a healthy increase in 2012.”
Chris Dimou, CEO and president of both North American organizations, said Fasco is an ideal complement to Roto Frank of America’s products and increases the relevant market potential. “The additional production and warehouse capacity further improves the ability to react quickly to customer needs,” he says. “In addition, one of the reasons we acquired Fasco is because of the people. They are a talented, hard-working group. Their philosophy of partnering with customers and providing excellent customer service is truly aligned with our philosophy at Roto.”
He adds that Roto has taken a “sustainable new strategic direction of our manufacturing and distribution organization,” in recent months.
“The focus has been, for example, improvement of efficiencies of internal processes, increased sales personnel and therefore more complete market coverage, market-inspired product development and a company-wide customer focus.”