WEST LONG BRANCH, NJ -- Unifide Industries, a provider of automotive chemicals and additives, has been acquired by Industrial Enterprises of America, Inc. (ILNP) Unifide now becomes a wholly owned subsidiary of Industrial Enterprises of America. Unified markets products under proprietary names such as Unifide, TMP (Taylor Made Products), Nu-Energy and Tradco/Phoenix.

Industrial Enterprises of America is a converter of a manageable multifunctional gas commodity that is applied to a number of refrigerant and propellant products used in a variety of industries including automotive, computer electronics and medical applications. The company is headquartered in Houston, Texas.

Unifide Industries has exhibited consistent sales and profit growth during its six year history, according to the company. The company's revenue will triple the size of ILPN‘s existing operations.

Commenting on the acquisition, Barry Margulis, Unifide president, said, “The acquisition significantly strengthens both companies. From Unifide’s perspective, we will greatly increase our ability to access the funds needed to drive future expansion. We will bring an experienced marketing and sales force to Industrial Enterprises core packaging business. Many cross-selling opportunities will emerge between the company’s brands. Unifide Industries will continue to operate independently from our headquarters in New Jersey. The acquisition will not affect our current customer arrangements in any way,” he concluded.

For more information about Unified, go to: www.unifide.com.

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