PORTAGE, WI — Penda Corp. has sold its Glasstite fiberglass manufacturing operation in Dunnell, Minn., to Brand FX Body Co. in Fort Worth, Texas. The Glasstite operation makes fiberglass truck caps and tonneau covers that are marketed through North American truck accessories retailers. Terms of the sale were not disclosed.
The sale includes Glasstite’s manufacturing facility in Dunnell and its full product line including the Glasstite, Outfitter and Raven caps and Breeze tonneau covers. Penda’s fiberglass facility in Daleville, Ala., is not included in the sale. Penda said it will continue to manufacture a complete offering of fiberglass accessories for both the OE market and the aftermarket at the Daleville plant.
According to Penda President and CEO Ulf Buergel, the Glasstite manufacturing operation is ideally suited to a company like Brand FX.
“We have been able to put the Dunnell facility on a solid footing through enhancements in product engineering, manufacturing processes and marketing programs, said Buergel. “The business is now ideally suited to the capabilities of a company like Brand FX. Brand FX has broader fiberglass manufacturing expertise that provides an exceptional strategic fit for future business growth. They can complement the business operations and take the product line to the next level.”
The sale of Glasstite marks part of Penda’s effort to focus on products where they have a clear competitive advantage. The company has decided to put its resources toward maximizing the growth of two strategic business units: Penda Truck Accessories and Penda Premier Solutions.
To learn more about Penda Corp., go to: www.penda.com.
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