TROY, MI — Intraco Corporation has acquired Hastings Manufacturing’s 50 percent interest in Casite Intraco LLC (The Casite Company) during August 2005.
Terms of the deal were not disclosed. Intraco had purchased a 50 percent interest in The Casite Company from Hastings in 1999 and managed sales outside North America. Casite, which was founded in 1922, had been wholly owned by Hastings since 1939.
The buyout enables Casite to more aggressively grow and promote the company and its products, particularly in the area new product development. The company will be introducing a number of new products at the upcoming AAPEX Show in Las Vegas and is midway through a 24-month plan to double its product offering.
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