By Evan Weese, web coordinator, Business First
Commercial Vehicle Group Inc. has acquired the assets
of Daltek LLC, a maker of interior and exterior films, paints and other
finishes, for $13.2 million, as it looks to continue diversifying its product
Daltek operates two plants and employs 42 workers in Dalton, GA,
primarily serving the all-terrain and utility-vehicle markets for Honda, John
Deere, Yamaha and Bemis.
"This acquisition complements our existing exterior and
interior trim products and fits our long-term strategic plan for growth and
diversification outside of the Class
8 market," Commercial Vehicle Group CEO Mervin
Dunn said in a press release.
The deal is expected to bring CVG revenue of more than $13
million with operating income of $3 million, increasing share earnings by an
estimated 7 cents in 2013.
Spokesman John Hyre said the company's business once was
fully rooted in heavy-duty Class 8 vehicles, including tractor trailers, but it
now gets less than 50 percent of its business from that segment. The
diversification, he said, makes Commercial Vehicle's stock less susceptible to
New Albany-based CVG (NASDAQ:CVGI) in November disclosed
the purchase of Indian seat-maker Vijayjyot for $13.7
million, a deal Hyre called a geographic as well as operational
The company employs about 130 workers in the Columbus area with its headquarters and
research-and-development facility in New