Jul 2007 Financial News

Agostini’s Ltd acquires US firm

Jul 27, 2007

The export sales of Agostini’s Limited’s light fixture manufacturing division, Agos Lighting, are to be enhanced by Agostini’s acquisition of the US-based MECAG LLC.

According to advertisements, Agostini’s chairman Joe Esau announced that the company has acquired 51 percent shareholding in the American company which was set up to acquire all of the operating assets of Mobern Electric Corporation, a lighting products manufacturer based in Laurel, Maryland. Mobern Electric will be relaunched as Mobern Lighting Company and will continue to operate at their original facility in Maryland with “essentially the entire existing workforce in place,” the advertisement stated.

Mobern has been in existence for over 50 years and will be managed by MECAG LLC, an investment group made up of several lighting and lighting component manufacturing experts who will manage and operate the new company.

Source:
Trinidad & Tobago's Newsday
Friday, July 27 2007

http://www.newsday.co.tt/business/0,61360.html