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Belron closes deal for Diamond Glass assets

Post Time:Jul 02,2008Classify:Company NewsView:582

The former Safelite AutoGlass has closed a deal to acquire a former rival, a move that will bring the Columbus company about 1,600 workers and more than 200 service centers.

Columbus-based Belron US, created when Belgium-based glass company Belron SA acquired Safelite in March 2007, bought the assets of Kingston, Pa.-based Diamond Triumph Auto Glass Inc. for $50 million after the company filed for Chapter 11 bankruptcy protection. Belron through the deal also picked up other Diamond Glass liabilities.

Belron's acquisition adds Diamond Glass' staff of more than 1,600 to its 7,000-employee base along with a network of 217 service centers in 42 states. The company said it plans to work with Diamond Glass management to integrate the companies in the next two months.

Just six years ago, Belron and Diamond Glass were engaged in a legal battle after the Pennsylvania company alleged Safelite misled customers about their options for choosing repair shops. Belron countersued and the companies last year dropped their remaining claims under a settlement that stipulated Diamond Glass buy an undisclosed amount of glass from Belron over five years.

Privately held Belron employs about 1,650 in Central Ohio and recorded $760 million in sales last year.

Source: Business First of ColumbusAuthor: admin

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