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Two Largest Automotive Glass Companies Finalize Acquisition


March 2007
 Filed under: AUTOMOTIVE MANUFACTURING Car News | AUTOMOTIVE MANUFACTURING Headlines
COLUMBUS, Ohio, March 5 /PRNewswire/ -- As expected, Belron S.A., the world's largest vehicle glass repair and replacement company, has completed its acquisition of Safelite Group Inc., according to Dan Wilson, president and chief executive officer of the new joint organization, Belron US. The closing was effective March 3.

"This transaction marks the beginning of a journey to an exciting future," Wilson said. "We are excited to be part of the Belron family and the undiscovered potential it brings to our customers, clients and associates. Belron is known for its ability to be a master brand builder with their well- known brands throughout the world. Now that the transaction is closed, we can benefit from this expertise and take advantage of being a part of a successful global entity."
The new Belron US will integrate the U.S. operations of the former Safelite Group Inc. and the former Belron Inc., which was the U.S. operation of Belron. While Belron US is the new legal entity for the U.S. operation, the company will continue to operate under its existing brands: Safelite(R) AutoGlass, Service(R) AutoGlass, Safelite(R) Solutions, AUTO GLASS SPECIALISTS(TM), GLASPRO(TM), ELITE AUTO GLASS(TM), WINDSHIELD PROS(TM) and MAVERICK GLASS(TM).

The transaction was announced Feb. 6 and the deal closed effective March 3.

In addition to Wilson, the senior leadership of the new Belron US includes: Thomas Feeney, executive vice president and chief client officer; Douglas Herron, executive vice president and chief financial officer; Mark Smolik, senior vice president, general counsel and secretary, associate services, ethics officer; and Rich Harrison, senior vice president, strategy and business development.

Additionally, Wes Topping, the former non-executive chairman of Belron Inc., joins the Belron US board in a non-executive capacity and will continue to search for additional strategic acquisitions.

A team of Safelite and Belron associates, led by Harrison, is working on the implementation and planning for the integration of the two former competitors, and is expected to finalize plans in the coming months.

"For now, we want our associates to remain focused on providing the high level of service that has been the tradition of Belron and Safelite," Wilson said. "Until we have had time to formally announce and implement transition plans, the vast majority of our work forces will continue to function in the same professional, efficient and customer-focused manner that they always have."

Belron US, a subsidiary of Belron S.A., is a multi-faceted automotive glass and claims management service organization based in Columbus, Ohio. The company is comprised of three major business operations that include automotive glass fulfillment services, operating under the trade names Safelite(R) AutoGlass, AUTO GLASS SPECIALISTS(TM), GLASPRO(TM), ELITE AUTO GLASS(TM), WINDSHIELD PROS(TM) and MAVERICK GLASS(TM); windshield manufacturing; and fleet and insurance claims management services. The privately held company employs more than 6,500 people throughout the United States.

Source: Belron US

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