Jackson Safety Acquires Chinese Welding Supplies Maker
Jackson Products Inc. (Fenton, Mo.), a privately held manufacturer and distributor of personal and traffic safety products, announced that it has entered into an agreement to acquire a 70 percent stake in Changzhou Shine Science & Technology Co. Ltd., a manufacturer of welding safety products in the People's Republic of China, for an undisclosed amount. The transaction is expected to close sometime in the third quarter of this year.
"This acquisition supports our global strategy of being the preferred supplier of safety products," said Tom Burns, Jackson president and CEO. "Shine's innovative products, broadens our welding product offering and strengthens our position as the number one manufacturer of auto-darkening filters. The acquisition of Shine will also provide us a manufacturing base in Asia and adds Shine's excellent engineering talent that will complement our own expertise in auto-darkening technology."
Jackson employs approximately 430 people and operates manufacturing facilities and distribution centers in the United States, Canada, and Europe.